Friday , July 12 2024

TIC to streamline Mahenge development

Black Rock Mining developers of Mahenge Graphite Project  has registered with the Tanzanian Investment Centre (TIC) to  accelerate development of the project.

According to the junior graphite developer, the registration which follows a government due diligence will see a streamlining of project permits, licences and relevant agreements, zero-rated value added tax on exports, a zero import duty on project capital goods, additional expatriate roles and tax deferment on project capital goods.

“Access to a streamlined single desk via the TIC will provide significant development incentives and significantly simplify and accelerate our project,” Black Rock Chief Executive Officer, John de Vries said.

He said progress towards mining licence is pleasing and on the back of positive feedback from the review process of the draft environmental and social impact assessment process.

“We have commenced development of the resettlement policy framework.”

De Vries said that front-end loading of the project and land access through the development of the resettlement policy framework provided a formal setting for the management of the complexities of project access.

“Commencing the process in a timely manner ensures site access is delivered in time for our project development timeline.”

Mahenge project is expected to deliver up to 250 000 t/y of graphite concentrate, over a 31-year mine life.

The project will be developed in three stages, with the first stage to require a capital investment of $90.1-million.

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