EcoGraf’s (ASX: EGR) Epanko Project Reaches Milestone with Completion of Major Environmental and Social Program

Highlights

• EcoGraf has completed key environmental and social planning for the Epanko project’s Stage 1 development in Tanzania.
• Epanko’s Special Mining Licence supports an initial 18-year mine life, with the potential for extension to 25 years.
• Environmental and social workstreams have confirmed no obstacles to the project’s development.
• EcoGraf has invested over AU$ 3.5 million in environmental and social programs, ensuring sustainability standards for Epanko.
• Epanko development is expected to generate more than US$9 billion in indirect economic benefits, creating 4,500 job opportunities.

EcoGraf Limited (ASX:EGR; FSE:FMK) has concluded key environmental and social planning for the Stage 1 development of its Epanko Graphite project in Tanzania.

Completing the environmental and social planning programs is an essential requirement for the Epanko financing process. This follows the recent approval of the Special Mining Licence (SML). The SML supports the initial mine life of 18 years, which is the basis for the current feasibility study. The licence also includes the option to extend the mine life to 25 years or more, depending on the future potential of the ore reserves.

Environmental and social workstreams, along with independent reviews, show no obstacles to the project's development. Additionally, the Epanko medical dispensary has been completed and will be handed over to the community as part of the company’s social development program.

EcoGraf has invested more than AU$ 3.5 million, over the past two years in programs led by top international and local environmental and social experts. This investment ensures that the Epanko project is developed in line with the highest sustainability standards.

The Epanko development is expected to deliver notable financial and social benefits to the region, creating long-term positive impacts. It is expected to generate a multiplier effect across the economy, offering opportunities for around 4,500 indirect employees and generating an estimated US$9+ billion in additional indirect economic benefits over the mine's life.

The Environmental and Social Impact Assessment (ESIA) will be updated, with a summary of key changes provided to the National Environmental Management Council (NEMC), in line with Epanko's existing environmental approvals.

A summary of the various social development activities at Epanko is shown below.

The share price of EGR was AU$0.16 at the time of writing on 17 March 2025.