Battle: Dar es Salaam vs Nairobi

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We are not in a competition

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Sawa boss ila that debt will mature soon!

 

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Mwakani syndrome....

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Tanzanian graphite project gets $277-million development contract


Michael McCrae Wednesday December 11, 2019 15:20

Kitco News
Australia-based Magnis Energy Technologies announced yesterday that it reached an agreement with Metallurgical Corporation of China to build a production facility at its Nachu graphite project in Tanzania.

The engineering, procurement and construction contract has a $277 million fixed price, the cost to build a 240,000 tpa plant.

Magnis Managing Director, Marc Vogts, said Nachu in Tanzania's most advanced project.

“The execution of the EPC contract with MCC which is contingent on MCC organising at least 80% of the funding demonstrates the quality of the project along with the significant progress made at Nachu this year, which is shovel ready and Tanzania’s most advanced graphite project. With the ability to produce 99.95% graphite products via mechanical processes only, Magnis is in a unique position to become a leader in the production of anode materials for the rapidly growing battery market,” said Vogts.

Metallurgical Corporation of China has 130,000 employees and assets over $50 billion.

Magnis said Nachu is a world-class graphite deposit with high distribution towards natural flake graphite in the super jumbo, jumbo and large flake categories.

By Michael McCrae
For Kitco News

Tanzanian graphite project gets $277-million development contract

A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.

www.kitco.com

 

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Garissa will ashame that village capital

That is a toy project as unit power cost is uncompetitive!

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Karatina market in nyeri.....

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Vipingo

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