JOHANNESBURG (miningweekly.com) – ASX-listed Kibaran Resources stands ready to present its Epanko graphite project to Tanzania’s yet-to-be-established Minerals Commission to start discussions over “silent” matters and the impact on the proposed Epanko debt financing arrangements.

Kibaran said it had reviewed the mining regulations that were issued in January, to support the new mining laws in the country, and had found no serious impediment to development at the project level.

“The Tanzanian government has recently stated it is ready to make any necessary changes to the legislation in order to ensure that all the stakeholders in the sector can benefit and in turn contribute to the growth of the economy,” the company said in an update to shareholders on Friday.

Kibaran believed that it was well positioned to comply with the new mining regulations, having completed an Equator Principles-compliant bankable feasibility study that satisfied the stringent International Finance Corporation Performance Standards and World Bank Group Environmental, Health and Safety Guidelines.

The project development plans are also consistent with the standards required by the new mining regulations in Tanzania and all documents required to secure government development approvals are completed, including the resettlement action plan.

“All approvals are in place and the project ready for immediate development, with the development team and engineers on standby,” Kibaran assured.

Further, the group’s discussions with project finance parties are well advanced, with prospective lenders awaiting certainty to be provided from the Mineral Commission on various aspects of the legislation affecting lending arrangements.

“These banks and the Australian government are assisting Kibaran to secure Mining Commission endorsement,” it added.

This followed the rigorous independent due diligence undertaken on the project by bank-appointed engineers.

“This process has significantly de-risked the project on both technical and financial fronts with the Epanko project globally being the only graphite project to be subjected to this degree of independent scrutiny,” Kibaran pointed out.

Kibaran will provide an update on its Epanko development timeline after it has presented it to the Mining Commission.