• Stage 1 processing of 20,000 tonnes per annum of flake graphite feedstock
• Stage 1 construction cost US$58.6m
• Forecast operating cost US$419 per tonne with power and transport cost advantages

EcoGraf Limited (ASX: EGR; FSE: FMK) is pleased to announce the completion of its Independent Engineering Study ('Study') for the development of its TanzGraphite Mechanical Shaping Facility at Ifakara in Tanzania. The Study is the result of extensive technical work completed over the last 10 years by EcoGraf and is based upon the preferred site near Ifakara, which provides significant clean-power and transport advantages. The TanzGraphite Mechanical Shaping Facility will value-add 20,000 tonnes per annum of Epanko natural flake graphite into spherical graphite. The mechanical micronizing and shaping process is the first step in the conversion of high-quality flake graphite into battery grade anode material for use in the production of lithium-ion batteries. The capital cost estimate for Stage 1 is US$58.6m, with a forecast operating cost of US$419 per tonne. The selected Ifakara site provides sufficient area to allow for the future expansion of the Mechanical Shaping Facility from the 20,000 tonnes per annum initial development, in conjunction with the planned expansion of Epanko production. EcoGraf has mandated KfW IPEX-Bank to undertake advisory, structuring and arranging services to obtain import credit cover (UFK Cover) and arrange a senior debt facility (UFK Tranche) of up to US$105 million for the construction of Epanko.

The TanzGraphite Mechanical Shaping Facility will process 20,000 tonnes per annum of flake graphite feedstock from the Epanko Graphite Project.

EcoGraf's patented HFfree® processing technology and vertically integrated battery anode materials business is positioned to provide significant cost and environmental benefits for the EV OEM's and battery manufacturers, utilising high-quality Tanzanian natural graphite sourced from its long-life Epanko Graphite Project.