Volt Resources (ASX:VRC) has established a pathway to obtain a mining license for stage 1 of the Bunyu graphite project following meetings with senior Tanzanian government and community officials.
The Bunyu Project is the largest JORC Resource deposit in Tanzania with 461 million tonnes at 4.9% TGC (total graphitic content).
Meeting Strategically important in being granted a mining license
A key takeaway from the meetings completed this week is that the positive benefits of an export-oriented industry are well understood by many within the Tanzanian government and community.
The development of Bunyu will significantly boost regional employment.
The company will provide skills and safety training for local people to participate in the project development, and provide opportunities for local and regional businesses.
Trevor Matthews, chief executive officer, commented: "We are very grateful for those who took the time to meet with the company this week, including The Honourable Ms Angellah Kairuki, who affirmed her commitment to foreign investment following her recent appointment as Tanzanian Minister for Minerals."
Volt Resources is also making progress in terms of establishing offtake partners.