Evolution Energy Minerals (ASX:EV1) has reached a settlement with the Tanzanian Government regarding the ownership, development and management of its Chilalo Graphite project.
The Framework Agreement and Shareholders Agreement provide a 16% non-dilutable free carried interest shareholding, and a 10-year term to the Mining Licence and reissued terms for all Prospecting Licences.
Evolution Energy Minerals says the Agreements were reviewed and agreed upon by the Tanzanian Government, and a public signing ceremony before the President of Tanzania is expected to be held in March 2023.
It also says the deals provide for a new joint venture company, Kudu Graphite, which is owned 84% by Evolution (indirectly) and 16% by the Tanzanian Government.