Northern Graphite Clarifies Namibian Export Ban on Unprocessed Critical Minerals
Northern Graphite Clarifies Namibian Export
Ban on Unprocessed Critical Minerals
Ottawa, Ontario--(Newsfile Corp. - June 22, 2023) - Northern Graphite Corporation
(TSXV:
NGC)
(OTCQB:
NGPHF)
(FSE: 0NG) (XSTU: 0NG)
(the "
Company
" or "
Northern
)
comments on news reports that Namibia, home to the Company's
Okanjande graphite project, has
banned the export of unprocessed lithium and other critical minerals.
"We have consulted with the Ministry of Mines and Energy of Namibia, and we have been assured that
this ban only applies to unprocessed ore and as such should have no bearing on our plans to mine and
process graphite bearing resources into concentrate at Okanjande," said Northern Graphite Chief
Executive Officer Hugues Jacquemin.
"This prohibition applies strictly to unprocessed critical minerals. Value should be added at least up to
the concentrate, carbonate/hydroxide level," said Mr. Andreas Simon, a spokesperson for Namibia's
Ministry of Mines and Energy in a statement provided to Northern.
The Okanjande project, due to come back on line in 2024, will involve mining and processing graphite
bearing material and exporting concentrates to supply traditional markets as well as to the fast-growing
electric vehicle industry.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is focused on becoming a world
leader in producing natural graphite and upgrading it into high value products critical to the green
economy including anode material for lithium-ion batteries/EVs, fuel cells and graphene, as well as
advanced industrial technologies.
Northern is the only significant graphite producing company in North America and will become the third
largest producer outside of China when its Namibian operations come back online. The Company also
has two large scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that have
the potential to generate continued production growth in the future.
All projects have "battery quality"
graphite and are located close to infrastructure in politically stable jurisdictions.
For media inquiries contact
Pav Jordan, VP of Communications
Email:
For further information contact
Guillaume Jacq, CFO
Telephone: (613) 271-2124
Email:
Qualified Person
Gregory Bowes, B.Sc. MBA P.Geo, the Chairman of Northern, is a "qualified person" as defined under
National Instrument 43-101 and has reviewed and approved the content of this news release.
For additional information
Please visit the Company's website at
http://www.northerngraphite.com/investors/presentation/
, the
Company's profile on
www.sedar.com
, our
Social Channels
listed below or
contact the Company at
(613) 271-2124.
YouTube
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and information are frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential",
"possible" and other similar words, or statements that certain events or conditions "may", "will",
"could", or "should" occur. Forward-looking statements in this release include statements regarding,
among others, the scope of the Namibian critical minerals ban and the Company's expectations
regarding the ban and the Company's intentions with respect to advancing its development projects to
production and developing the capacity to manufacture value added products. All such forward-
looking statements are based on assumptions and analyses made by management based on their
experience and perception of historical trends, current conditions and expected future developments,
as well as other factors they believe are appropriate in the circumstances. However, these statements
are subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected including, but not limited to unexpected changes in
laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to
perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or
inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver
anticipated results or results that would justify and support continued studies, development or
operations. Readers are cautioned not to place undue reliance on forward-looking information or
statements.
Although the forward-looking statements contained in this news release are based on what
management believes are reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with them. These forward-looking statements are made as of the date
of this news release and are expressly qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any obligation to update or revise the
forward-looking statements contained herein to reflect events or circumstances occurring after the
date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/171032