Armadale Capital has secured a memorandum of understanding for a potential offtake agreement for the Mahenge Liandu graphite project in Tanzania.
The agreement with Matrass Group would be for 30,000tpa, which is more than 60% of average target annual production. The agreement would be for five years. Testing work should start by the end of March.
Discussions continue about the remaining 19,000tpa of expected annual production.
The Environmental and Social Impact study has been completed and relocation costs will be lower than expected.
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