Kibaran Resources Receives Mining License for Epanko Project

Kibaran Resources Ltd. (ASX:KNL) announced that the Ministry of Energy and Minerals of Tanzania has granted its mining license for the Epanko graphite project. According to the company, that was the “remaining major milestone” in terms of government permitting for the project.
As quoted in the press release:

The Mining Licence allows extraction and processing of graphite, covers an area of 9.49 square kilometres and is for a period of 10 years, the maximum period under Tanzanian legislation but renewable for subsequent 10 year periods.
The licence encapsulates all mineralized zones, including those areas where additional resources are expected to be defined and supports the Company’s previously reported (ASX 19 January 2015) planned production growth strategy from 40,000tpa to 100,000tpa.

Grant Pierce, executive director – projects at Kibaran, commented:

Granting of the Mining Licence de-risks the Epanko Graphite Project and places Kibaran in a prime position to be both the first graphite producer in Tanzania since Samax’s Graphtan Mine at Merelani commenced production in 1995 and to be one of the first companies into production amongst its listed peer group. Being first into production brings with it some unique, one off opportunities which are extremely significant on a number of strategic and commercial fronts and Kibaran has been focusing on its preparedness to take advantage of them over recent months.

Click here to read the full Kibaran Resources Ltd. (ASX:KNL) press release.