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Black Rock Mining Ltd.
Summary
| Project: | Mahenge | |
|---|---|---|
| Deposit: | Mahenge | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 9/5/2018 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 5-9-2018: Black Rock Mining Ltd. announces an EIA/ESIA report for its Mahenge deposit at the Mahenge project. EIA approved for Mahenge graphite project. Tanzanian graphite developer Black Rock Mining Limited (BKT: ASX) (“Black Rock” or “the Company”) is | |
| Resources: | (Resource, Total): 211.9Mt @ 7.8% TCG for 16.6Mt TCG contained at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Tanzanian graphite developer Black Rock Mining Limited (BKT: ASX) (“Black Rock” or “the Company”) is pleased to announce its 100% owned local subsidiary, Mahenge Resources, has received an Environmental Impact Assessment Certificate (“EIA”) from the National Environment Management Council of Tanzania (“NEMC”). The approval covers mining at the Company’s three ore bodies that comprise the broader Mahenge Graphite Project and is valid for the whole lifecycle of the mine. Importantly, all conditions are consistent with the Company’s submissions and reflect expected outcomes of the DFS. This important approval is the final step prior to the receipt of a mining licence. The Company has elected to submit its mining licence application once the Definitive Feasibility Study (DFS) is complete to ensure its application is consistent with its final mine design and proposed operating parameters. The Company is currently on track to complete its DFS by the end of September 2018, with the results expected to be released to the market in early October 2018. The DFS builds on a highly positive optimised Pre-Feasibility Study (PFS) completed in July 2017 that proposed a 31 year mine delivering 250k tonnes per annum constructed over three equal sized phases. Key financial metrics were pre-production capex of US$90.1m, a realistic average selling price assumption of US$1,241 per tonne delivering an operating margin of US$863 per tonne and a post tax, unlevered IRR of 45.1% and NPV10 of US$905m. Black Rock’s CEO John de Vries commented: “We are delighted to have received our environmental approvals within the timeline we have been working towards. The award of the environmental permit demonstrates that Tanzania is adjusting to the new mining code and the licencing approval processes are now working. | |
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