Lion Sees path to restarting Graphite Mine
Vancouver, British Columbia, Oct. 31, 2023 (GLOBE NEWSWIRE) — Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION, OTCQB: GBBGF, F: 0TD) is pleased to share the following. The President of Madagascar has signed the new Malagasy mining code into law. This new code is structured to better support sustainable development, good minerals and environmental governance, as well as benefiting the people of Madagascar- all of which aligns with Lion’s commitment to being a good corporate citizen. This is a very positive step in the realisation of the Ambato-Arana graphite mining project. Moreover, Madagascar’s Ministry of Mines and Strategic Resources has confirmed that the mine plan submitted by LION for the development of the project complies with existing regulatory requirements. The Ministry may ask the Company to provide specific additional data to its mining plan upon the implementation of the new mining code, which the government indicates is imminent. LION has prepared such data and information to meet any further request from the Ministry. The Company is taking all necessary steps to bring the project back into production.