EcoGraf (ASX:EGR) completed its independent engineering study for the development of its TanzGraphite mechanical shaping facility in Tanzania, according to a Monday Australian bourse filing.
The firm has proposed the expansion of its Epanko graphite project to produce around 300,000 tonnes per annum of flake graphite products. The facility will value-add 20,000 tonnes per annum of Epanko natural flake graphite into spherical graphite.
The design and layout are based on extensive piloting and commercial scale testing programs.
It is in talks with the European Union Commission regarding support for the facility development to produce spherical graphite for EcoGraf HFfree facilities in Europe, per the filing.
The firm mandated KfW IPEX-Bank to undertake advisory, structuring, and arranging services to obtain import credit cover and arrange a senior debt facility of up to $105 million for the construction of Epanko.
Its shares fell 5% on market close on Monday.
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