• Mining
Friday, October 24, 2025
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
Subscribe
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
No Result
View All Result
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
No Result
View All Result
Home Mining

Northern Graphite spends N$9 million on Okanjande Project upkeep

by editor
June 9, 2024
in Mining
1.2k 12
A A
0

Northern Graphite Corporation allocated N$9 million towards care and maintenance at its Okanjande Project during the first quarter of 2024.

Northern Graphite is actively assessing various financing strategies to fund its Okanjande Project.

The company’s CEO Hugues Jacquemin said Northern Graphite is exploring using a royalty/stream/debt structure alongside equity contributions from strategic partners, aiming to avoid issuing new shares at current market prices.

The Okanjande site has been on care and maintenance since the third quarter of 2023.

“The company continues to evaluate options to fund the Okanjande Project through a royalty/stream/debt structure and equity contributed by a strategic partner without going to the market at current share prices. The timing of the restart is subject to the availability of project financing,” he said.

This comes after Northern Graphite last year unveiled findings from a new PEA, proposing the relocation of its processing plant from Okorusu to the Okanjande mine site instead of rehabilitating the current mill.

“The PEA indicated that economics remain attractive under the new plan, with higher capital costs but lower operating costs. In addition, greenhouse gas emissions are reduced, sustainability is improved, and the expansion potential of the project is substantially enhanced,” said Jacquemin.

Meanwhile, key results of the PEA included average annual production of 31,000 tonnes of graphite concentrate to be sold in U.S. and European markets, production costs of US$666 per tonne, a post-tax IRR of 36%, a post-tax NPV of US$70 million and a payback of under four years.

Results were based on a 10-year mine life and a weighted average graphite price of US$1,550/tonne.

Last year, Northern Graphite said the move would eliminate ore transportation costs and lead to better project economics.

“This scenario would represent phase 1 of an ultimate plan to build 100,000-150,000tpy of graphite production capacity adjacent to the Okanjande deposit to meet rapidly growing EV and battery demand,” the company said.

Northern Graphite began mining operations at Okanjande in 2017 and up until November 2018, the material was trucked 78km to the Okorusu Fluorspar Plant, which had been retrofitted to process graphite-bearing material.

author avatar
editor
See Full Bio
Share265Tweet166

Related Posts

bp confirms gas condensate discovery at Volans-1X well in Namibia
Mining

bp confirms gas condensate discovery at Volans-1X well in Namibia

  bp has confirmed the preliminary results of the Volans-1X exploration well in Namibia’s Orange Basin, according to a statement...

October 22, 2025
Tower Resources to raise N$12.9m to support Namibia and Cameroon exploration programme
Mining

Tower Resources to raise N$12.9m to support Namibia and Cameroon exploration programme

  Tower Resources plc, an AIM-listed oil and gas company focused on Africa, has announced plans to raise N$12.9 million...

October 19, 2025

Recommended

Galp adds 700 million barrels to Namibian reserves after successful drilling

Galp adds 700 million barrels to Namibian reserves after successful drilling

7 months ago
Chevron ends in the same boat as Shell with no commercial hydrocarbons off Namibia

Chevron ends in the same boat as Shell with no commercial hydrocarbons off Namibia

9 months ago
Load More

Newsletter

Black transparent logo for dark mode

About Us

The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors

Categories

  • Copper
  • Diamonds
  • Energy
  • Gold
  • Green Hydrogen
  • Lithium
  • Mining
  • Namibia
  • News
  • Oil & Gas
  • Opinions
  • Tin
  • Uranium
  • Zinc

Get in touch

Email:newsdesk@miningandenergy.com.na

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.