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NGX (ASX: $NGX) secures licence for Malingunde graphite project

NGX secures licence for Malingunde graphite project


NGX Limited (ASX: $NGX) has been issued a Retention Licence (RL) for the Malingunde Natural Graphite Project in Malawi. The project is a premium quality, low cost flake graphite project with exceptional economic and environmental attributes. The company will review the Pre-feasibility Study (PFS) to explore the optimization of the project by focusing on supplying graphite concentrates to the feedstock market for lithium-ion battery anodes.

Executive Commentary on Malingunde graphite project


NGX is pleased to have secured the Retention Licence for the Malingunde Natural Graphite Project. We are committed to advancing the project and will immediately proceed with the review of the Pre-feasibility Study to explore opportunities for optimization. The demand for high-quality natural graphite feedstock is forecasted to be strong, especially in the lithium-ion battery market, which presents a significant opportunity for the Malingunde Project.

Summary of Malingunde graphite project


NGX Limited has obtained a Retention Licence for the Malingunde Natural Graphite Project in Malawi, signaling a significant milestone in the advancement of the premium quality graphite project. The company plans to review the Pre-feasibility Study to explore opportunities for optimization, particularly in supplying graphite concentrates to the lithium-ion battery market. With the growing demand for natural graphite feedstock, especially in the electric vehicle sector, the Malingunde Project is well-positioned to capitalize on this market trend. The project's compelling economic estimates, low operating and capital costs, and excellent infrastructure availability further enhance its potential for long-term success. NGX is committed to engaging with stakeholders and ensuring compliance with national regulations and international best practices as it progresses with the project.

Sourcehttps://announcements.asx.com.au/asxpdf/20240124/pdf/05zpjygdf7gnbw.pdf

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