Northern Graphite plans to restart the Okanjande project in early 2027, pending financing, to coincide with plans to supply its proposed processing facility in France.
The project has been under care and maintenance since August 2023.
According to Northern Graphite’s first-quarter report for the three months ended March 31, 2025, the Okanjande cost US$300,000 to maintain in care and maintenance.
The company spent US$500,000 in 2024.
Northern Graphite says it continues to evaluate options to fund the Okanjande project through the use of a royalty, stream, or debt structure and equity contributed by a strategic partner without having to go to the market at current share prices.
A technical report in respect of a preliminary economic assessment for the Okanjande project prepared by NI 43 101 was filed under the company’s profile on SEDAR+ on August 28, 2023.
The preliminary economic assessment indicated that the economics are attractive under a plan to move the processing plant from Okorusu to the mine site with higher capital costs but lower operating costs.
In addition, greenhouse gas emissions are reduced, sustainability is improved, and the project’s expansion potential is substantially enhanced.
With the resumption of production at the Okanjande Project, Northern Graphite would become one of the world’s largest non-Chinese natural graphite producers.
