Posted on 29 May 2023
Australia-listed Tanzanian graphite developer Black Rock Mining has signed an MOU with South Korean manufacturer Posco International Corporation for a potential offtake agreement, Kallanish learns.
The plan is for Black Rock Mining to supply Posco with 6,000 tonnes/year of high-quality large natural flake graphite concentrate from module 1 of its Mahenge project, in Tanzania. The two parties are now negotiating details such as product specifications and commercial terms for a binding agreement.
“Not only are we building a stronger offtake position with one of the world’s largest battery anode producers, but critically, this agreement represents an important de-risking milestone for our potential lenders as part of finalising our project debt for Mahenge,” comments Black Rock ceo John de Vries.
The Australian company has an 84% interest in the project, which has a JORC-compliant mineral resource estimate of 213 million tonnes at 7.8% total graphite content.
A definitive feasibility study for the project considers a four-stage construction schedule to deliver up to 340,000 t/y of 98.5% graphite concentrate for 26 years.
Source:Kallanish
