Northern Graphite weighing funding options for Okanjande

By Confidente Reporter

Northern Graphite is evaluating options to fund the Okanjande project through royalty, stream or debt structure with equity contributed by a strategic partner. The Okanjande project comprises the Okorusu fluorspar processing plant and the Okanjande graphite deposit. The graphite deposit is about 20 km south of Otjiwarongo in the Otjozondjupa region, while the Okorusu processing plant is about 78km from Okanjande and 60km from Otjiwarongo town. The Okonjande project has been under care and maintenance since the third quarter of 2023 to reduce costs.

Northern Graphite kept the engineering department and those involved in moving the Okorusu plant to Okanjande. Presently, Northern Graphite says the timing of a restart is subject to the availability of project financing.

The company, however, says a full developmental schedule can be executed within 12 to 14 months once financing is available, with the intent to resume production in 2025.  In August 2023, Northern Graphite published the results of a new pre-economic assessment that evaluated moving the processing plant for its Namibian operations.

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