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IMX Resources Ltd. (ASX:IXR) announced that its Chilalo graphite project has been awarded an environmental certificate by the National Environment Management Council of Tanzania. The certificate is a pre-requisite for receiving a mining license.
IMX Resources Ltd. (ASX:IXR) announced that its Chilalo graphite project has been awarded an environmental certificate by the National Environment Management Council of Tanzania. The certificate is a pre-requisite for receiving a mining license.
As quoted in the press release:
Given that capital expenditure for development of the Chilalo Project is expected to be less than $100 million (pre-production capital expenditure of $74 million1 ) the Company will be applying for a Mining Licence, the application for which requires a completed feasibility study and the environmental certificate. With a PFS completed in November 2015 and the environmental certificate having now been received, the Company can finalise its submission for a mining licence application.
The Company expects that the Mining Licence will be granted during the second quarter of 2016.
Phil Hoskins, managing director of IMX, commented:
This is a fundamental milestone in the development of our Chilalo Project and clears the way for a Mining Licence application. Coming on the back of our Pre-feasibility Study and the continuing exclusive offtake and finance negotiations with China Gold, it is another step forward as we continue to de-risk Chilalo’s production credentials.
Click here to read the full IMX Resources Ltd. (ASX:IXR) press release.