Ann: Madagascar Govt sets programme for issue of Mining Permits, page-2

Madagascan Government confirm new

Mining Code and sets programme for the issue of

Mining Permits

Highlights

 In late 2023, the Madagascan Government passed legislation to adopt a new Mining Code which

includes granting of development and production licenses for compliant graphite projects.

 Recently, the Mines Ministry of Madagascar issued an order to Bureau du Cadastre Minier

(“BCMM”” – the department responsible for the administration of licenses1

) in Madagascar

authorising BCMM to commence, amongst other things, the transfer (upgrade) of permits to allow

for construction and development of mine operations.

 The Government has now adopted an Indicative Programme for action on the issue, transfer and

validation of mining permits with the programme formally commencing on 1 August 2024

 The World Bank has provided significant incentives to the Madagascan Government in support of

these major development initiatives with funding available to the Government from the World

Bank.

 Evion’s new and experienced in-country development team are now working to finalise all

necessary permits and applications in preparation for the granting of development licenses.

 Evion has been invited to apply to the European Union for funding and other support as part of the

EU’s Critical Raw Materials Act2 to guarantee supply of graphite to the EU in the short and long

term.

 Senior members of the Madagascan Government, along with Evion’s Management team from

Madagascar, to visit Perth in early September 2024

Mr David Round, Company Managing Director commented – “The Madagascan Government’s new Mining

Code (2023) has seen a positive step to unlocking the country’s vast critical mineral resources, including

large graphite projects.

The Government’s recent initiatives and announcements, combined with significant World Bank support

and funding, is an enormous positive step for mining in Madagascar and our plans to be a material supplier

of graphite concentrate and downstream material to the world over decades to come.

We are delighted with these developments and our team is actively working in country to conclude all tasks

necessary for Evion to be issued with development and mining permits as soon as possible”.