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Armadale further Mahenge Liandu DFS

Armadale Capital director Nick Johansen says the company's Mahenge Liandu graphite project definitive feasibility study is advancing at good speed and it is on track to lodge key environmental and social action plans this month.
Armadale further Mahenge Liandu DFS Armadale further Mahenge Liandu DFS Armadale further Mahenge Liandu DFS Armadale further Mahenge Liandu DFS Armadale further Mahenge Liandu DFS

Armadale is progressing Mahenge Liandu's DFS

Staff reporter

Armadale has received the final environmental and social impact assessment (ESIA) report from external consultants, including favourable findings, and the relocation action plan (RAP).

Johansen said the ESIA and RAP were integral to the process enabling Armadale to apply for a mining licence, so the company was "delighted with the findings that appear favourable".

The RAP covers the 9sq.km area of the proposed mining licence, which has limited areas of development and a low population density, leading to Armadale anticipating a modest compensation cost relative to the overall capital requirement of the proposed project in south-east Tanzania.

Armadale said it was due to submit the final ESIA report and RAP to the National Environment Management Council (NEMC) of Tanzania by the end of April.

"We are now completing our in-house work on these documents and look forward to submitting both to the NEMC shortly. Other multiple workstreams are ongoing regarding the DFS and commercial discussions related to the project," Johansen said.

The company's (AIM:ACP) shares were trading at 1.19p (USc) Friday, 17.9% lower than six months ago.