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Volt Resources Formally Receives Bunyu Mining Licenses
Oct. 22, 2018 01:59PM PST
Volt Resources (ASX:VRC) has formally received mining licenses that cover respective stage 1 and 2 developments for its Bunyu graphite project in Tanzania.
Volt Resources (ASX:VRC) has formally received mining licenses that cover respective stage 1 and 2 developments for its Bunyu graphite project in Tanzania.
The licenses, received from the Mining Commission of the Ministry of Minerals of Tanzania, cover a combined area of 17.71 square kilometers and give Volt the exclusive right to develop graphite within the area. The licenses are effective for 10 years.
As quoted in the press release:
Now that the Company has formally received the ML’s, the completion of the Tanzanian Note Issue for the Bunyu development is the remaining key milestone prior to Volt’s subsidiary Volt Graphite Tanzania Ltd (VGT) proceeding with front end engineering and design work for the initial Stage 1 operations and the ordering of long lead time components.
Concurrently with the Stage 1 development, VGT plans to be undertaking the Definitive Feasibility Study on the large-scale Stage 2 expansion at Bunyu.
