Next Graphite Subsidiary Receives License Transfer from Namibian Mining Ministry

Next Graphite Inc. (OTCQB:GPNE), a development-stage company in Africa’s Republic of Namibia, announced that its 90-percent-owned, Namibia-based operating subsidy has received Namibia’s Mining Ministry License #3985.

The subsidiary, Gazania Investments Two Hundred and Forty Two Ltd., now holds the license, and the project will be the object of further exploration, development and production work by Next Graphite.

As quoted in the press release:

As detailed in the Company’s press release on April 3, 2014, Next Graphite, Inc., through its wholly owned subsidiary, African Graphite, Inc., acquired 90% ownership of Gazania, which now holds EPL #3985, covering a natural graphite-rich mining territory and mine on the Aukam Farm, in southern Namibia. Only licensed and approved mining operators can mine resources in Namibia. Next Graphite Inc. is the only, US-listed mining Company which has been granted a license to mine the hydrothermal-based, natural flake graphite found in Namibia.

Next Graphite’s CEO, Cliff Bream, said:

Obtaining our mining license was the last step in our approval process before we begin our next round of geological studies and additional exploration of the license territory. We are eager to validate and test our stockpiles for purity and other deposits of natural, large-flake graphite, some of which are clearly visible in surface deposits. In the coming weeks, we will report additional findings and milestones for our feasibility study plans in 2014 and then our targeted processing and commercialization plans for 2015.

Click here to read the Next Graphite Inc. (OTCQB:GPNE) press release.