Gratomic has extended the mining life of its Aukam Graphite Project after securing a 15-year renewal of Mining Licence ML215, taking the licence term through to March 2040.
The company received official notification from the Ministry of Mines and Energy in September 2025 confirming the government’s preparedness to renew the licence.
Following further engagement and the company’s formal response, the licence has now been fully upgraded and renewed, providing long-term security of tenure for the southern Namibian graphite asset.
The renewal marks an important regulatory milestone for Aukam, which has experienced several operational pauses and restructuring phases in recent years as Gratomic worked to stabilise the project and address technical, funding and corporate challenges.
In parallel with the licensing process, Gratomic said the processing plant completed comprehensive electrical and mechanical performance testing in late October 2025, with all operational tests successfully concluded.
The testing forms part of readiness activities ahead of a planned remobilisation of the operational team to site following the Namibian holiday period.
With tenure now secured, the company said it is preparing to re-establish site operations and will provide further updates on near-term operational activities and upcoming financial reporting once mobilisation is underway.
The company also acknowledged the support of the Namibian government and the Ministry of Mines and Energy in facilitating the renewal process and maintaining a stable regulatory environment for mining investment.
At the same time, Gratomic cautioned that the Aukam Project remains at an early technical stage.
No Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of commercial production, and no mineral resources or mineral reserves demonstrating economic or technical viability have yet been delineated on the property.
The company intends to complete a Feasibility Study or equivalent technical assessment to evaluate whether the existing processing plant can be scaled to a commercial operation capable of producing target concentrate grades and production volumes.
Any decision to expand production would be guided by the outcomes of that study and subsequent technical and financial validation.
Gratomic further noted that any future graphite supply from Aukam remains conditional on successfully advancing the project into production and meeting specific technical and mineralisation requirements. Until feasibility work is completed, the company said it is unable to disclose reliable capital or operating cost estimates.
Risk disclosures accompanying the update highlight the inherent uncertainty associated with projects that have not yet reached feasibility stage.
The company said production timelines, recovery rates and operating costs remain subject to material uncertainty, and failure to commence production or achieve anticipated costs could have a material impact on future cash flow and profitability.
Gratomic operates projects in Namibia, Brazil and Canada, and positions Aukam as its flagship development asset within a broader strategy to supply graphite into electric vehicle battery and energy storage supply chains.
In Namibia, the extended licence term provides regulatory continuity as the company works to complete technical studies, stabilise operations and determine a viable long-term pathway for the project.
