Project Updates

Maniry Graphite

Credit: Evion Group

Mine Type: Open pit

Location: Madagascar

Reserves: 16.2Mt

Lifespan: 21 years

Australia-based Evion Group, formerly known as BlackEarth Minerals, is developing the open-pit graphite mine, with construction expected to start in 2024. Three deposits are considered for the current development, with an estimated investment of $103.78m for the first two stages.

Makuutu Rare Earths

Credit: Ionic Rare Earths

Mine Type: Open pit

Location: Uganda

Reserves: 172.9Mt

Lifespan: 35 years

Ugandan company Rwenzori Rare Metals, which is 60% owned by Australia-based Ionic Rare Earths, is developing the rare earths project in East Africa. First production is targeted for late 2024, with an estimated pre-production capital of $120.8m.

Tumas Uranium

Credit: Mr. Tempter/

Mine Type: Open pit

Location: Namibia

Reserves: 88.4Mt

Lifespan: 22.5 years

Australia-based Deep Yellow is developing the project in Namibia, which has the potential to produce uranium for up to 30 years. The initial capital investment required is around $372m and production is expected to commence ramping up in late 2025.