Okanjande targets 2028 restart
Northern Graphite is seeking between US$45 million and US$60 million – equivalent to up to about N$977 million – to restart the Okanjande graphite mine, about 20km south of Otjiwarongo. First production is targeted for the first quarter of 2028.
Namibia country director Sam Januarie told Network Media Hub (NMH) that the company hopes to secure the financing by the end of this year. Construction and the rebuilding of the processing plant could then begin in early 2027.
The plant has since been relocated from Okorusu, about 85km away, to Okanjande. Previously, ore mined at Okanjande had to be transported to Okorusu for processing. Januarie said high transport costs and the fact that Northern did not own the Okorusu site had made the arrangement uneconomical in the long term.
Water and electricity supplies still have to be finalised. Options under consideration include a water pipeline and a solar power facility.
According to the company, initial production is expected to reach about 31,000 tonnes of graphite a year. Capacity could later increase to 150,000 tonnes or more. Existing resources are expected to support mining operations for between seven and 10 years.
The company has also identified a potential buyer. Northern Graphite has signed a letter of intent with a Saudi company that could purchase graphite for a planned battery anode material facility, which is also expected to start operating in 2028.
Northern Graphite also sees opportunities from China's dominance of graphite processing and growing demand for alternative sources of supply.
The company is also considering a listing on a Namibian stock exchange, which would allow local investors to buy shares in Northern Graphite.
The Okanjande mine operated in 2017 and for part of 2018 before being placed on care and maintenance because of weak graphite prices. Northern Graphite acquired the project in 2022.
