A very good start to the day for KNL holders. Read on...
Kibaran Completes Resettlement Action Plan Key Points
• US$7.5m Investment in Long Term Community Development
• Extensive Program Achieves Global Performance Standards
• Delivers Critical Project Implementation Plan for Debt Financing
• Public Disclosure Period to commence shortly • Cost Estimates Consistent with 2017 Bankable Feasibility Study Kibaran Resources Limited (ASX: KNL),
(‘Kibaran’ or the ‘Company’) is pleased to announce that it has completed the Resettlement Action Plan (‘RAP’), for the planned development of the Epanko Graphite Project (‘Project’). The RAP program has been conducted in accordance with the highest global standards for social and environmental planning and achieves the Performance Standards prescribed by the International Finance Corporation (‘IFC’) and mandated under the Equator Principles1 for best practice in international project financing developments. The RAP is an important component of the Project’s implementation planning and an essential pre-requisite to securing credit approvals under the debt financing process. It has involved 12 months of intensive field work, that included: • Identification of all affected persons and completion of detailed socio-economic surveys • Surveys of land, assets and roads • Preparation of preliminary valuations • Evaluation of resettlement areas for housing, associated infrastructure and farm land • Continuous consultation and engagement with affected persons and the establishment of a Resettlement Working Group • Design of the proposed resettlement village • Finalisation of a comprehensive US$7.5m community investment package consisting of new and improved housing, upgraded road infrastructure, new school, medical dispensary, church, related community infrastructure and assistance with the establishment of sustainable micro-enterprises among village family groups. The RAP will now be submitted to key officials within the Republic of Tanzania for final approval, including the Chief Government Valuer, Ministry of Lands, Housing and Human Settlements Development Department, Ministry of Energy and Minerals, National Environment Management Council and the related regional and district Government authorities. A copy of the RAP will be accessible on the Company’s website shortly at http://www.kibaranresources.com.au/tanzgraphite/social-and-environmental
KNL Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
(20min delay)