Madagascar Lifts 16-Year Mining Permit Suspension: Major Step Forward for LION's Ambato-Arana Graphite Project.

Core Viewpoint - Global Li-Ion Graphite Corp. welcomes the lifting of a 16-year suspension on mining permits in Madagascar, which is expected to boost foreign investment in mining projects, including its Ambato-Arana Graphite mine [1][4]. Company Updates - The new permit system in Madagascar will involve licenses for small-scale operators, competitive tenders for industrial projects, and the Mining Brigade's involvement in application reviews [2]. - The Ambato-Arana Graphite mine project consists of three forty-year renewable mining licenses covering 4,375 hectares (10,811 acres) located near key infrastructure, including a large-scale nickel/cobalt mine [4]. - Historical production of graphite occurred on the licenses for about a century, but was suspended due to market conditions; the deposits are now ready for modern exploitation techniques [4]. Industry Context - Madagascar is rich in strategic minerals such as nickel, cobalt, and graphite, which are crucial for the global energy transition [3]. - As of 2023, there were 1,650 mining permits pending approval in Madagascar, indicating significant potential for future mining activities [3].