Source - SMW
Mining group Armadale Capital said it had increased the planned rate of production at its Mahenge Liandu graphite project in Tanzania.

The production profile of the mine had been upped to average annual output of 109k tonnes of concentrate per annum, using a higher cut off and strip ratio.

The rate represented a 30% increase on a recently completed definitive feasibility study.

'The updated mine schedule demonstrates the exceptional potential of the Mahenge Liandu graphite project,' chairman Nick Johansen said.

'The use of a higher-grade cut off and mining of a higher-grade material at an increased pace leaves significant scope for the project to produce higher volumes of graphite over the 15 year mine life at a higher EBITDA margin, thus enhancing its overall near-term upside.'

At 1:23pm: (LON:ACP) Armadale Capital PLC share price was +0.35p at 3.6p

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