LONDON (ShareCast) - (Sharecast News) - Natural resources investment company Armadale Capital updated the market on progress at its Tanzanian Mahenge Liandu graphite project, including the definitive feasibility study, on Friday.
The AIM-traded firm said it had received the final environmental and social impact assessment (ESIA) report from external consultants, with "favourable" findings.

It had also completed the decommission implementation plan, considering options on how to utilise the site after mining was completed.

Armadale said it had received the relocation action plan (RAP), primarily to engage with the local community, and was on schedule to submit final ESIA report and RAP to the National Environment Management Council of Tanzania by the end of April.

"We are very pleased with the speed at which the definitive feasibility study is advancing as we look to advance the world-class Mahenge Liandu graphite project in south-east Tanzania and establish a significant high-grade graphite mine," said Armadale Capital director Nick Johansen.

"Both the ESIA Report and RAP are integral to this process, enabling us to apply for a mining licence, so we are delighted with the findings that appear favourable."

Johansen said the company was now completing its in-house work on those documents, with the board "looking forward" to submitting both to the NEMC shortly.

"Other multiple work streams are ongoing regarding the DFS and commercial discussions related to the project - we anticipate updating the market with further progress in the near term."

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