Announcement • Jul 02

Northern Graphite Completes Processing Plant Relocation To Okanjande Mine Site

Northern Graphite Corporation has completed the relocation of its processing plant equipment in Namibia to the Okanjande mine site in a first execution step toward the planned restart of production in late 2027, subject to financing. The relocation involved dismantling the processing equipment at the former Okorusu site and transporting it approximately 85 km to Okanjande for reassembly in a subsequent phase in coming months. The move was completed on schedule, safely and without incident, marking a key step toward a restarting of mining and processing operations while advancing Northern's development of an integrated mine-to-battery graphite business. In August 2023, Northern announced the results of a preliminary economic assessment evaluating the relocation of its Namibian processing plant from Okorusu to the Okanjande mine site rather than rehabilitating the mill at its existing location. The preliminary economic assessment, issued July 31, 2023 and prepared by CREO Engineering Solutions, confirmed the technical and economic viability of the approach. Relocating the plant to Okanjande eliminates the need to transport material over long distances, reducing fuel consumption, operating costs and associated greenhouse gas emissions. The initiative also supports improved project sustainability, with further benefits expected from the potential use of solar power and the incorporation of dry tailings to reduce water consumption and overall environmental impact. Graphite produced from Okanjande is expected to supply both traditional industrial markets, including refractory applications for steelmaking, heat management in electronics and friction products for the automotive sector, as well as the growing national security and battery materials markets. Okanjande hosts a large graphite resource in one of Africa's most politically stable jurisdictions, with access to a deep-water port that provides substantial competitive advantages over many competing projects. Completing the plant relocation further de-risks the restart strategy and positions Northern to move quickly to support secure graphite supply chains independent of China.

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