Graphite rush intensifying

June 20, 2016

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Verification by Armadale of high-grade graphite in Tanzania came hot on the heels of Australian graphite developer Syrah Resources raising A$194-million for its Balama graphite project in Mozambique and smaller Volt Resources, with the Namangale graphite project in Tanzania, announcing a $4-million placement. London Aim-quoted Armadale reported graphite mineralisation of up to 33.8% from rock chip samples taken from the Mahenge Liandu graphite project in south east Tanzania, which it is in the process of acquiring from Graphite Advancement Tanzania.   Armadale chairperson Peter Marks commented in a release to Creamer Media’s Mining Weekly Online that Liandu represented an opportunity for Armadale to get exposure to the burgeoning graphite market, with modest near-term capital expenditure and limited risk.

Category: General