Madagascan Government confirm newMining Code and sets programme for the issue ofMining PermitsHighlights In late 2023, the Madagascan Government passed legislation to adopt a new Mining Code whichincludes 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 Madagascarauthorising BCMM to commence, amongst other things, the transfer (upgrade) of permits to allowfor construction and development of mine operations. The Government has now adopted an Indicative Programme for action on the issue, transfer andvalidation 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 ofthese major development initiatives with funding available to the Government from the WorldBank. Evion’s new and experienced in-country development team are now working to finalise allnecessary 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 theEU’s Critical Raw Materials Act2 to guarantee supply of graphite to the EU in the short and longterm. Senior members of the Madagascan Government, along with Evion’s Management team fromMadagascar, to visit Perth in early September 2024Mr David Round, Company Managing Director commented – “The Madagascan Government’s new MiningCode (2023) has seen a positive step to unlocking the country’s vast critical mineral resources, includinglarge graphite projects.The Government’s recent initiatives and announcements, combined with significant World Bank supportand funding, is an enormous positive step for mining in Madagascar and our plans to be a material supplierof 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 tasksnecessary for Evion to be issued with development and mining permits as soon as possible”.
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