TanzGraphite (TZ) Limited is a wholly owned subsidiary of Australian registered and Australian Securities Exchange listed company Kibaran Resources Limited.

Incorporated on 7th August 2012, TanzGraphite was registered to explore and evaluate the potential of Tanzania for graphite. Following a review of historical records and follow up geological field work the TanzGraphite applied for a prospecting licence at Epanko, purchased seven prospecting licences at Arusha/Merelani and entered into an option to acquire further prospecting licences at Mahenge.

In 2012/13, funded by Kibaran Resources Limited, TanzGraphite undertook a drilling programme on the Mahenge and Epanko licences. This exploration work resulted in a graphite exploration target at Epanko. These results lead to TanzGraphite making the decision to relinquish its Mahenge option and focus on the quality prospectivity of Epanko.

Further drilling and analysis of the results, resulted in a mineral resource of 14.9Mt, grading 10.5% total graphitic carbon (TGC) for 1.56Mt of contained graphite in May 2013. A scoping study completed in July 2013 provided the confidence the Company needed to continue to advance exploration of Epanko and the potential economics of it development. The development potential was enhanced when TanzGraphite (TZ) Limited entered into an offtake agreement to sell Epanko graphite with a European graphite trader.

In January 2014 the Company commenced environmental studies at Epanko, necessary for the granting of a mining licence. An environmental and social impact assessment was lodged with the National Environmental Management Council (Tanzania) in September and Australian engineering firm GR Engineering engaged to undertake a feasibility study on Epanko.

February 2014 saw the commencement of exploration and evaluation of the prospecting licences at Arusha/Merelani and the historic Merelani graphite mine. A maiden resource estimate an Merelani was completed in May 2015.

May 2015 also saw the Company receive an environmental certificate for the development of Epanko. A resource upgrade, increased the contained graphite at Epanko to 2.195Mt from 6.6Mt of measured resource at 9.7% TGC, 7.9 Mt indicated resource at 10.0%TGC and 8.8Mt indicated resource at 8.7% TGC.

TanzGraphite was granted a Mining Licence to develop Epanko in July 2015. The Feasibility Study was also finalised in July enabling the Company to advance the funding discussions with its shareholder and banks. The feasibility study is based on initial operations of producing 40,000tpa of high grade graphite concentrate. With a capital cost of US$77.5 the project has a pre-tax NVP of US$197.4m.

With a 25 year mine life, the development of the Epanko Graphite project is expected to generate gross revenues of US$1,344.6m which will result in, mineral royalties (3%) of $40,338,000, Company Tax (30%) of $162,800,000 and withholding taxes of over US$10m as well as creating direct employment for over 150 people

The Company is currently finalising the necessary steps for the determination of a final investment decision for the commencement of construction of a mine and processing plant at Epanko.