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Northern Graphite Completes Preliminary Economic Assessment on Relocating Processing Plant for Namibian Operations
New Plan Indicates Reduced GHG Emissions, Improved Sustainability and Enhanced Expansion Potentia...
About this update from Northern Graphite Corporation
[{"type":"text","content":"Northern Graphite Completes Preliminary Economic Assessment on Relocating Processing Plant for Namibian OperationsNew Plan Indicates Reduced GHG Emissions, Improved Sustainability and Enhanced Expansion PotentialMove Supports Northern's Strategy to be a Competitive Supplier to Battery Anode Material (\"BAM\") MarketsOttawa, Ontario--(Newsfile Corp. - August 28, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the \"Company\" or \"Northern) is pleased to announce the results of a new preliminary economic assessment (\"PEA\") that evaluated moving the processing plant for its Namibian operations located at Okorusu to the Okanjande mine rather than rehabilitating the mill in its current location.The PEA indicates that economics remain attractive under the new plan, with higher capital costs but lower operating costs. In addition, greenhouse gas (\"GHG\") emissions are reduced, sustainability is improved, and the expansion potential of the project is substantially enhanced. The PEA, issued July 31, 2023, was prepared by CREO Engineering Solutions and confirms the viability of moving milling operations directly to the Okanjande mine site, which eliminates the cost of trucking mineralized material 70km to Okorusu. This allows for a more sustainable operation that also includes the use of solar power and lower water consumption.\"Moving the mill also provides room for potential future expansion from the perspective of both processing and tailings capacity, which is something we do not have at the current location,\" said Northern Chief Operating Officer Kirsty Liddicoat. \"The new approach also incorporates dry tailings into an integrated waste landform which means less water use and a more sustainable operation in support of the green transition,\" she added.The Company is also looking at other ways to reduce its carbon footprint after the plant move, including the use of electric pit equipment and purchasing biofuel offsets on shipping concentrates from Namibia. The Okanjande/Okorusu operation is currently on care and maintenance and the goal remains to restart production in late 2024, subject to financing.The Okanjande graphite mine is a key catalyst in Northern's strategy to become an integrated and sustainable mine-to-battery company, supplying markets in North America and Europe as they emb...