Ryzon Materials and Yintai Xinhai Mining have signed a non-binding master agreement (HoA) for an engineering, procurement, construction and management (EPC+M) contract for the Nachu graphite mine.
Through its Tanzanian subsidiary, Uranex Tanzania, Ryzon Materials has full (100%) ownership of the Nachu graphite project near Ruangwa.
The project is located about 220 kilometers from the port of Mtwara.
According to the HoA, Xinhai will leverage its experience in mining engineering, mineral processing and project execution to prepare revised cost estimates for the initial stage of the plant within the current quarter.
The project has a planned capacity of 80,000 tonnes per year (tpa) of graphite. Xinhai will also complete the detailed engineering phase, as previously announced on September 30, 2025.
Ryzon President Frank Poullas said: “We appreciate the support we continue to receive from Xinhai and its partners. We look forward to moving forward with major development works next year.”
The agreement sets out the process to finalize the EPC+M contract, with Xinhai expected to submit a formal proposal to Ryzon in the second quarter of 2026.
Additionally, Xinhai is supporting Ryzon in securing funding for the project by leveraging its network to help advance the process.
Discussions are currently underway with several parties, primarily located in China, with the aim of raising at least 80% of the required capital through debt financing.
Elon Zhang, president of Xinhai, said: “With the numerous site visits our company has made at Nachu and all the testing work completed in our laboratory, I have no doubt that Nachu is a unique graphite mine and that we will push to the extreme to bring the project to production in the shortest possible time frame.”
“Ryzon and Xinhai sign agreement for Nachu graphite mine in Tanzania” was originally created and published by Mining Technology, a brand owned by GlobalData.
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