Friday, 4 September 2015

Next “World Class” Flake Graphite Project Being Developed In Tanzania by an Australian Company


Next “World Class” Flake Graphite Project Being Developed In Tanzania by an Australian CompanyA resources project being developed by an Australian company in Tanzania is rapidly emerging as the next “world-class” flake graphite project. Addressing the second day in Perth today of the Paydirt 2015 Africa Down Under Conference, IMX Resources Chief Executive Officer, Mr Phil Hoskins, said his company was focussed on transitioning its Chilalo Graphite Project in Tanzania’s South East into a world class project.


“IMX Resources is committed to fast-tracking Chilalo into a world-class flake graphite project,” IMX Resources Chief Executive Officer, Mr Phil Hoskins, said today. “We have the potential to rapidly progress its development on the back of outstanding flake size and product purity – with further improvement in flake size expected,” he said. “A pre-feasibility study on our initial 50,000 tpa project is due next month.

“We also have an initial offtake MOU in place and further discussions are ongoing. “Further, finance discussions are progressing well – all of which work towards IMX rapidly progressing this project into a world leading flake graphite project.” Mr Hoskins said Tanzania was a good place to do business with a stable democratic government committed to growing the mining industry. The country had also experienced strong GDP growth over the past 10 years, had a globally competitive tax and regulatory regime, and had a skilled and educated workforce.

He said the Chilalo Graphite Project would be supported by significant existing infrastructure including roads and transport, the deep commercial port of Mtwara Port, and reliable power and water supplies meaning no significant capital expenditure would be required. The Company announced yesterday an estimated maiden Exploration Target for its Chilalo Graphite Project of about 100–350 million tonnes grading, approximately 3-11% Total Graphitic Carbon (‘TGC’). The Exploration Target is in addition to its existing Shimba Mineral Resource. Read More...

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