The purchasing corresponds to around 50 % of the planned annual graphite output from Kibaran’s proposed mine, in the Epanko Graphite Project located in Tanzania, East Africa. With the conclusion of the agreement, ThyssenKrupp Metallurgical Products has also secured the option of a five-year extension.
The Epanko Graphite Project is expected to be in operation in early 2017. A mining license has already been obtained from the Government of Tanzania. Kibaran Resources Limited specializes in graphite exploration in the mineral-rich regions of Tanzania. In the Epanko region, the Australian company has secured an extremely promising site offering significant graphite deposits and good development opportunities, with transport infrastructure already in place. The East African country of Tanzania is also well-disposed toward the mining industry and aims to develop this economic sector. Graphite is an industrial mineral which is an important component in lithium iron batteries used in smartphones, tablets and electric vehicles. Graphite is also well-suited to high-temperature applications, in particular the manufacture of refractory compounds and bricks.