Epanko financing gaining pace following Barrick deal
Graphite hopeful EcoGraf expressed optimism last month that gold miner Barrick Gold’s resolution of a dispute with the Tanzania government could pave the way for the financing and development of the Epanko graphite project.
Barrick recently signed a settlement agreement with the Tanzania government, which pledged full support for Barrick, and ordered the release of the miner’s concentrate containers, which have been held at the Port of Dar es Salaam since March 2017.
Barrick has said it will invest $50-million in exploration in Tanzania during 2020.
The deadlock has delayed the Epanko project by two-and-a-half years, with the Australian firm working with KfW IPEX-Bank and the Tanzanian government on the resolution of the legislative issues that have been impacting on the international financing of minerals projects in the country.
EcoGraf said that positive progress had been achieved in recent weeks to revise the proposed financing structure for the Epanko mine, and to fast-track the entire debt financing.
A $60-million senior debt funding proposal is currently being prepared under the revised structure and, subject to securing agreement among all parties, the completion of the required approvals and loan agreements, is now expected to be accelerated by the settlement with Barrick.
A bankable feasibility study has estimated that the Epanko project would require an investment of $88.9-million to produce 60 000 t/y of graphite.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















