EcoGraf clears key financing milestone for Epanko graphite project

2026-02-02

Feb. 2, 2026 - EcoGraf Limited has achieved a major milestone in the development of its Epanko graphite project in Tanzania with the completion of an Independent Engineers’ Report (IER), a key requirement for securing up to US$105 million in debt financing.

The final IER has been submitted to KfW IPEX-Bank after an extensive technical due diligence process that began in 2024. The report provides independent confirmation of the project’s technical feasibility, cost estimates, construction schedule, risk profile, and environmental compliance, demonstrating that Epanko meets international project finance standards.

Completion of the IER marks a significant step in EcoGraf’s financing strategy and complements previously completed environmental and social studies, including environmental impact assessments, resettlement planning, and compliance with IFC Performance Standards and the Equator Principles.

Managing Director Andrew Spinks said the IER confirms the technical robustness of the Epanko project and represents an important milestone on the company’s path to project financing.

The IER is a core condition for the proposed senior secured loan facility of up to US$105 million, which is being arranged by KfW IPEX-Bank under the German Untied Loan Guarantee scheme. KfW IPEX-Bank’s involvement provides strong validation of the project and enhances EcoGraf’s credibility with lenders and investors.

Following completion of the IER, EcoGraf expects to deliver an updated Bankable Feasibility Study (BFS) for the Epanko project in February 2026. The updated BFS will incorporate IER-validated technical designs, refined cost estimates, and updated production and financial assumptions.

With the IER hurdle cleared and the updated BFS approaching, EcoGraf is moving closer to finalising project financing and advancing Epanko toward development as a supplier of natural graphite to global battery markets.