Magnis finds a Russian partner
PERTH (miningweekly.com) – Graphite developer Magnis Resources has signed a project financing and offtake memorandum of understanding (MoU) for super jumbo and jumbo flake graphite from its Nachu project, in Tanzania.
Magnis said on Monday that it would work with Russia’s Rosatom International Network to formalise an offtake agreement, once certain milestones had been met.
Discussions for the project financing would continue in tandem.
Magnis chairperson Frank Poullas told shareholders that the MoU was a key step in a binding offtake agreement for the super jumbo and jumbo products, and potential financing with the world’s largest nuclear power technology company.
“Rosatom is the world leader in the development and construction of nuclear reactors with over $130-billion worth of orders in place. Larger flake graphite, which our Nachu project will produce, is a key material used in these nuclear reactors and it is highly sought after. Our project, therefore, is strategically important to Rosatom over the longer term.”
Meanwhile, Magnis has terminated its offtake agreements with Sinosteel Liaoning and China National Materials Import and Export Corporation.
The Nachu project is expected to deliver about 220 000 t/y of graphite concentrate over a mine life of 15 years and can be developed at a capital cost of $269-million.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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