Evion Group NL (ASX:EVG, OTC:EVIGF) has laid out a regulatory pathway to secure mining permits for its Maniry Graphite Project in Madagascar and European Union (EU) funding to develop the project under the Critical Raw Materials Act.
Madagascar adopted a new mining code late last year, which includes provisions for granting development and production licences for compliant graphite projects.
More recently, the Mines Ministry of Madagascar issued the licensing body, the Bureau du Cadastre Minier (BCMM) a directive to begin awarding or upgrading permits to allow for the construction and development of mining operations.
EVG was also invited to apply for project development funding support under the EU’s Critical Raw Materials Act, highlighting graphite’s importance as a critical mineral vital to the energy transition.
Supplying graphite for decades to come
“The Madagascan Government’s new Mining Code (2023) has seen a positive step to unlocking the country’s vast critical mineral resources, including large graphite projects,” Evion Group managing director David Round said.
“The government’s recent initiatives and announcements, combined with significant World Bank support and funding, is an enormous positive step for mining in Madagascar and our plans to be a material supplier of graphite concentrate and downstream material to the world over decades to come.
“We are delighted with these developments and our team is actively working in country to conclude all tasks necessary for Evion to be issued with development and mining permits as soon as possible.”
Strong local support
The Madagascan Government has adopted an indicative program for the issue of mining permits which began on August 1 this year, supported by significant investment by the World Bank in an effort to promote the mining industry.
The company says the local community is highly supportive of Maniry and that Evion is committed to providing the Maniry region with employment, education, health and medical support and a range of other social and economic initiatives.
According to EVG, several senior members of the Madagascan Government will visit Perth alongside members of the company’s highly experienced Madagascan management team in early September this year.
The delegation will attend the Africa Down Under Conference and conduct a range of meetings – Evion anticipates that due to the growing importance of graphite, those meetings will include conferences with Government representatives and several media events.