Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Volt Resources on track with Tanzanian approvals process for graphite project

Proactive Investors Monday, 16 April 2018
Volt Resources Ltd (ASX:VRC) continues to advance the approvals process at the Bunyu Graphite Project in Tanzania. Environmental approvals are progressing in line with Volt’s expectations with a site verification visit and a technical review completed. As a result, further information has been sought by authorities for inclusion in the Environmental Social Impact Statement (ESIS). READ: Volt Resources Limited's Bunyu Graphite Project prepares for first production in 2018 Volt is preparing this information and expects to submit the amended ESIS to the National Environment Management Council (NEMC) within the next week. Subject to meeting NEMC requirements, the amended ESIS will be sent to the Department of Environment and the Minister will provide a decision within 30 days. Resettlement Action Plan completed Volt has also completed a Resettlement Action Plan (RAP) and the associated valuation report of compensation payable to people affected by the project. The RAP has been approved by the government’s chief valuer and is nearing approval completion at district and regional levels. Drafting of the implementation plan for the RAP is underway. Volt has been working closely with authorities to ensure this process is compliant with legislation and that all people affected by the development are appropriately compensated. Mining licence application progresses The mining licence application for Bunyu is progressing. It is awaiting the appointment of the Minerals Commission, the body which approves the applications, as well as receipt of an environmental certificate. The company expects that the stage I feasibility study for the project will be completed this quarter. Timing has been adjusted due to delays in sample exports in Tanzania. These delays have impacted the delivery of stage I resource and reserve calculations, the mine production schedule and associated product revenue and mining and processing costs. Volt says the delays are expected to have minimal to no impact on the overall development schedule. READ: Volt Resources lodges draft prospectus to raise US$40 million for Bunyu graphite project Tanzanian regulators are reviewing the company’s draft prospectus for a US$40 million note issue. There is no prescribed timeframe for completion of the reviews by the Tanzanian Capital Markets and Securities Authority and the Dar es Salaam Stock Exchange. Based on previous note issues, the initial review generally takes three weeks to receive feedback and Volt expects to receive it later this month. Following this, Volt and its advisors will make any requested changes and re-submit the prospectus to the regulators for final approval. The prospectus will then be distributed to investors in East Africa to begin the fundraising process.
0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Dad builds a lego replica of Forth Rail Bridge [Video]Dad builds a lego replica of Forth Rail Bridge

A dedicated dad has built a replica of the iconic Forth Rail Bridge - made out of 3,000 Lego bricks.Civil engineer, Michael Dineen, 41, went to extraordinary lengths to build the detailed model, which..

Credit: SWNS STUDIO     Duration: 01:02Published

Project Sanctuary offers retreat for veterans [Video]Project Sanctuary offers retreat for veterans

It can be difficult to transition back into a normal life after serving in the military. That's where Project Sanctuary steps in. This week, the program is hosting military families from across the..

Credit: ABC 2 News WMAR     Duration: 01:02Published

Blue Light project aims to make Highland Park and Ecorse safer [Video]Blue Light project aims to make Highland Park and Ecorse safer

If you are in the city of Detroit and see flashing green lights on a business you know police are monitoring live surveillance camera feeds there. It is called Project Green Light.

Credit: WXYZ Detroit     Duration: 02:07Published


Recent related news from verified sources

Black Rock Mining raises $3 million to progress graphite project to construction-ready stage

Black Rock Mining Ltd (ASX:BKT) has raised $3 million in an oversubscribed placement of more than 42.8 million shares at 7 cents per shares to professional and...
Proactive Investors

Black Rock Mining in trading halt pending an equity raising

Black Rock Mining Ltd (ASX:BKT) is in a trading halt ahead of a proposed equity raising announcement. The trading halt will remain in place until the beginning...
Proactive Investors

Coffee with Samso - Graphite, more than an EV story

Graphite is a commodity that is well known but I feel the investing market does not really understand the business and its commercial use as a commodity. While I...
Proactive Investors

Rox Resources starts aircore drilling in highly gold prospective area at Youanmi JV project

Rox Resources Ltd (ASX:RXL) has begun an aircore drilling program at its jointly held Youanmi Gold Project in Western Australia. The drilling will target an area...
Proactive Investors


Other recent news in Business

Nova Minerals aims to fast-track development works at the Thompson Brothers Lithium PROJECTARCHER Exploration reveals high purity alumina exploration target in South Australia
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.