TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company"), developer of the K.Hill battery-grade manganese project in Botswana ("K.Hill" or the "Project") is pleased to announce that it has been granted a Mining Licence for K.Hill from the Ministry of Minerals and Energy of Botswana.
Highlights:
- Giyani has been granted a Mining Licence for K.Hill, less than nine months from filing an application in December 2023 (see January 4, 2024 news release (“NR”)). This is the culmination of a process that commenced in early 2023 and finalised after Giyani was granted an Environmental Authorisation (“EA”) and secured surface right leases (“Surface Rights”) from the Ngwaketse Land Board in the southern district of Botswana (see July 16, 2024 NR). The Mining Licence is valid for 15 years and under the Botswana Mines and Minerals Act, it can be renewed multiple times, for up to 25 years each renewal.
- The speed of the Mining Licence application process demonstrates the pace that permitting moves in Botswana as well as the positive support that the Company has in-country from its stakeholders for the only fully integrated battery-grade manganese project in Botswana. The efficiency with the Mining Licence receipt reflects the collaborative relationship between the Company, government entities and local communities, ensuring that both national and community-level benefits are prioritised.
- Receipt of the Mining Licence is another positive sign of momentum for Giyani in developing this critical minerals project. The next step in the Company’s path forward is production of battery-grade manganese from its Demonstration Plant (“Demo Plant”), which is under construction in Johannesburg, South Africa, and due to be commissioned during Q4 of this year (see August 07, 2024 NR for an update on its progress). The product from the Demo Plant will be used for offtaker qualification, a vital step before offtake agreements can be signed.
- The Mining Licence area is sufficient to accommodate K.Hill’s requirements over the extended 57-year life of operations as defined in the Preliminary Economic Assessment (“PEA”) prepared in July 2023 (see July 31, 2023 NR).
- Giyani has already commenced a Definitive Feasibility Study (“DFS”), which will build on its existing PEA and is expected to be completed in 2025. The DFS will incorporate an updated Mineral Resource Estimate (“MRE”) and utilise data from the Demo Plant, ongoing optimisation test-work to minimise any environmental impact and maximise the Project value. Ongoing test-work is aimed at reducing operational costs, carbon emissions and reagent use.
Charles FitzRoy, President and CEO of the Company, commented:
"I would like to thank the Ministry of Minerals and Energy, the Department of Mines and everyone involved in our Mining Licence application process that has enabled such an efficient and professional process. Special mention should go to Country Manager Elisa Kgomotso Modikwa and ESG Lead Tom Steytler who have played crucial roles in securing this vital permit so swiftly.
Securing Mining Licences can often be a lengthy process, so achieving this major milestone in such a short time frame is testament to the diligent approach adopted by the Giyani team and the efficient and rigorous review undertaken by the Department of Mines. Our experience to date validates Botswana’s global ranking as a top mining investment jurisdiction.
Giyani’s pre-emptive decision to commit to the IFC Performance Standards, in addition to the high requirements of Botswanan legislation, as part of this process not only aligns with our values as a company but ensures all workstreams and activities align with international lenders’ requirements for construction financing.”
Mining Licence Application Process
Prior to submission of the Mining Licence application, an EA was required. The EA was granted to Giyani in December 2023.
The Company completed the Environmental Impact Assessment (“EIA”) process in accordance with the Environmental Assessment Act of 2011, the Environmental Assessment Regulations of 2012 and the International Finance Corporation Performance Standards on Environmental and Social Sustainability of 2012.
The EIA process culminated in the submittal of a comprehensive Environmental Impact Statement (“EIS”) to the Botswana Department of Environmental Affairs (“DEA”) in March 2023. Following detailed review and public consultation, the DEA approved the EIA and issued the EA with a validity period of 25 years, subject to renewal thereafter.
Receipt of the EA, together with the required Land Board surface rights approvals and other technical studies, enabled the Company to complete the Mining Licence application process for K.Hill. The Mining Licence application was submitted to the Department of Mines in late December 2023, and receipt of the Mining Licence was recorded on September 16, 2024.
About Giyani
Giyani is focussed on becoming the dominant western-world producer of sustainable, low carbon high purity battery grade manganese for the electric vehicle (“EV”) industry. The Company has developed a proprietary hydrometallurgical process to produce High Purity Manganese Sulphate Monohydrate (“HPMSM”), a lithium-ion battery (“LIB”) cathode precursor material critical for EVs.
The Company has secured US$26m in financing from two strategic partners, ARCH Sustainable Resources Fund LP and the Industrial Development Corporation of South Africa, as it aims to progress the K.Hill battery-grade manganese project in Botswana to construction by building and operating the Demo Plant and completing a Definitive Feasibility Study in 2025.
Additional information and corporate documents may be found on www.sedarplus.ca and on Giyani Metals Corp. website at https://giyanimetals.com/.
On behalf of the Board of Directors of Giyani Metals Corp.
Charles FitzRoy, President and CEO
Contact:
Charles FitzRoy
President & Chief Executive Officer
cfitzroy@giyanimetals.com
+1-289-291-7632
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, that address events or developments that Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. In the case of Giyani, these facts include their anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and conditions; risks related to the uncertainty of mineral resource calculations and the inclusion of Inferred Mineral Resources in economic estimation; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made, and Giyani does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-looking statements, please refer to Giyani's Annual Information Form, all of which are filed on SEDAR+ at www.sedarplus.com.
