Evolution Energy Minerals Ltd (ASX:EV1) has a date with the President of Tanzania, Her Excellency Samia Suluhu Hassan, for the formal signing ceremony of its Framework Agreement and Shareholders Agreement.
Agreements to be signed
On Monday, April 17, the agreements – which relate to the arrangements for the ownership, development and management of the company’s Chilalo Graphite Project – will be signed in the president’s presence.
The details of the agreements were worked out in March when the company announced that its definitive feasibility study (DFS) confirmed that the project is all set for high margins and low capital costs, and ready to deliver sustainably sourced graphite to the rapidly growing battery market over the 17-year life of the mine.
ESG credentials
The news follows a raft of developments for the company at Chilalo, including a revitalised ‘BBB’ rating from Digbee ESG on the company’s environmental, social and governance (ESG) efforts after a year of de-risking initiatives.
The company believes that the time is right to be involved in graphite, with a booming market for batteries and a perfect geopolitical setting as countries look to source the material from outside of China, the country currently dominating supply.
About Chilalo Graphite Project
Chilalo is in south-eastern Tanzania, East Africa, 100 kilometres north of the border with Mozambique.
It’s development-ready, with a granted mining licence and all environmental approvals in place.
It also benefits from the world’s leading flake size, which translates to the highest margins.
The majority of the project’s strike potential remains undrilled, which affords EV1 the opportunity to materially increase the high-grade mineral resource.
Importantly, the company’s carbon credentials are striking, with the project aiming for net zero from day one of operation.