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Black Rock receives environmental nod for Mahenge graphite project

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Black Rock receives environmental nod for Mahenge graphite project

Black Rock Mining Ltd. secured environmental approval for its Mahenge graphite project in Tanzania, covering all of the three ore bodies on the property.

The company's wholly owned local subsidiary, Mahenge Resources, received an environmental impact assessment certificate from the National Environment Management Council of Tanzania for a staged project, starting with production of 83,000 tonnes and increasing to 250,000 tonnes over five years.

Black Rock said Sept. 5 it will submit a mining license request after completion of the definitive feasibility study to ensure that the application is consistent with its final mine design and proposed operating parameters.

A July 2017 pre-feasibility study proposed a three-phased project producing 250,000 tonnes annually over a 31-year mine life. The study estimated preproduction capex of US$90.1 million, a net present value, discounted at 10%, of US$905 million, and a 45.1% internal rate of return, based on a selling price assumption of US$1,241 per tonne.

The definitive feasibility study is scheduled for release in early October.