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Volt Resources lodges mining license applications for Bunyu graphite project

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Volt Resources lodges mining license applications for Bunyu graphite project

Volt Resources Ltd. said Feb. 8 that it lodged mining license applications with the Minister for Minerals of Tanzania, covering both stage one and two of the Bunyu graphite project.

In the stage-one development, an estimated 400,000 tonnes per annum of ore will be processed to produce 20,000 tonnes per annum of graphite products, while stage-two expansion will be based on the pre-feasibility study metrics of 3.8 million tonnes per annum of ore feed to produce 170,000 tonnes per annum of graphite products.

The mining license application followed the submission of the Environmental and Social Impact Statement, both of which are crucial for the near-term development plans at Bunyu.

In December 2017, Volt said it would proceed with the issue of US$40 million in structured debt funding for the first stage of development of Bunyu.