This development means that the company can start construction, subject to the availability of financing.
The MCP document includes the nature of the operations planned, current baseline environmental conditions, potential effects on the environment and the company’s precaution measures.
Northern graphite CEO Gregory Bowes said that the company is looking forward to getting on with the next phase of a project that has the potential to generate substantial benefits for local and First Nation communities and the people and province of Ontario, as well as the Company’s shareholders.
"It is unfortunate that it took the Ontario government 10 months to approve the MCP when it is represented as a 45 day process," added Bowes.
With mining lease in place, Northern Graphite is working to obtain other permits relating to air, noise, water, and species at risk, following which it intends to commence production.
Bissett Creek graphite project is a large flake, high purity deposit with low engineering, technical and political risk, reasonable capital costs and competitive operating costs, the company said.
Contract mining would be replaced by owner mining which is expected to reduce operating costs by over $100 per ton of concentrate.
Northern Graphite has undertaken a preliminary economic assessment to validate the economics of doubling production in three or four years to meet the anticipated growth in graphite demand.
