• Amendments to original SEZ license increases value-addition from the Nachu Graphite Project
• Magnis to progress development plans given stability provided by amended SEZ
• SEZ license permits 100% ownership by Magnis Resources Limited
• Legislative amendments allow for International Arbitration if disputes arise
• Revenues from product sales to be paid into overseas bank accounts – defraying major sovereign risk • Fiscal stability ensured with a range of incentives including a favourable 10-year corporate tax-free period
• Magnis has the option to enter agreements with other graphite miners in Tanzania for processing and marketing of graphite
The SEZ under the jurisdiction of the Department of Industry, Trade and Investment, governs the operation of the graphite processing plant and is not subject to the changes in the mining legislation promulgated last year.
The SEZ license for production of value added graphite products is the only such license to be granted in Tanzania. The amendments are significant and a major value catalyst for Magnis and underpins the development of the Company’s Nachu Graphite Project which includes the processing facility
Now if Magnis can get such a good deal on the processing of their graphite and all those other goodies I wonder how good the concessions for the mining part of it will be?
Did you email the company and congratulate them on that above announcement?
Very surprising that they gave those concessions. .
MNS Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
(20min delay)