Next Graphite, a development stage firm in Namibia firm focused on graphite production, has secured Namibia's Mining Ministry License #3985 for its operating unit Gazania Investments Two Hundred and Forty Two (Gazania).
African Graphite, a wholly-owned subsidiary of Next Graphite, has acquired 90% ownership of Gazania earlier this month.
Next Graphite mines the hydrothermal-based, natural flake graphite found in Namibia.
Next Graphite CEO Cliff Bream said, "Obtaining our mining license was the last step in our approval process before we begin our next round of geological studies and additional exploration of the license territory.
"In the coming weeks, we will report additional findings and milestones for our feasibility study plans in 2014 and then our targeted processing and commercialization plans for 2015."
Established in 1990, Namibia’s Ministry of Mines and Energy administers legislation over land based-resources and seeks to promote the optimal exploitation of mineral resources and integrate the mining industry with other sectors of the economy for the socio-economic development of the country.