Northern Graphite Company Announces Mine Closure Plan Submission

Northern Graphite Company (TSXV:NGC, OTCQX:NGPHF) announced that they have submitted their mine closure plan for its Bissett Creek Mine to the Ontario Ministry of Northern Development and Mines. Upon approval from the government, the company will be able to begin construction of the Bissett Creek Mine, subject to financing.

As quoted in the press release:

Acceptance or “filing” of the MCP by year end will enable site works to begin including the clearing of internal roads, plant site and tailings basin. Subject to financing, the Company will be in a position to begin plant construction in the spring of 2013. Construction of the plant and infrastructure will take approximately one year. Production in Q2 2014 is an attainable goal and should coincide with improving economies, a recovery in the graphite market and higher graphite prices.

Northern Graphite’s CEO, Gregory Bowes, said:

The submission of the Mine Closure Plan is a major milestone for the Company that moves the project a significant step closer to production. We expect that the Ministry of Northern Development and Mines will review and return the MCP in a timely fashion in keeping with their policy of promoting sustainable economic development in the province of Ontario.

To view the whole press release, click here.