Black Rock Mining (ASX:BKT) is progressing early works at the Mahenge Graphite Project in Tanzania as it works toward a final investment decision (FID).
The company is waiting for project financing to be completed and an FID to be made prior to commencing access road construction.
Work has begun on aligning the Ifakara to Mahenge 220 kilovolt transmission line, which will provide access for the Mahenge region to a hydro-powered grid. Construction is being undertaken by Black Rock’s 84% owned subsidiary, Faru Graphite Corporation, with ownership of the power line and substation to be transferred to the Government-owned Tanzania Electric Supply Company upon completion.
The company is currently focused on completing the necessary project financing, having engaged in discussions with multiple parties across a range of equity financing structures.
Mahenge is a key project under the Minerals Security Partnership, a transnational association chaired by South Korea. Black Rock’s strategic alliance with POSCO, a leader in battery materials headquartered in South Korea, places Mahenge in an environment that is open to strategic financing for critical minerals projects.
Managing Director John de Vries says that the company has strong momentum with its early works program at Mahenge and that “we have cleared the path for immediate road construction once project financing is secured”.
“By commencing corridor surveys and tower spotting, we are taking tangible steps toward securing hydro-dominated grid power. This infrastructure is a game-changer, not only providing us with a significant cost advantage, but also ensuring our graphite products maintain a world-class, low carbon footprint.”
Black Rock is seeking to complete the road access resettlement once project financing is complete. The company is to issue a notice to vacate as well as relocate graves in the road corridor and livelihood restoration.
The earthworks tender contract is in progress and expected to be completed within the March 2026 quarter.
Black Rock Mining has an 84% interest in the Mahenge Graphite Project, spread across 324 square kilometres of exploration tenements in Tanzania’s Ulanga district.
Write to Amy Rotman at Mining.com.au
Images: Black Rock Mining
