Black Rock Mining signs major Tanzanian project funding agreement

Black Rock Mining (ASX: BKT) managing director and chief executive officer John de Vries joins Small Caps to discuss the company's recent signing of a major financing agreement to fund development of the Mahenge Graphite Project in Tanzania.
A consortium of African banks have come together to provide approximately $260 million in loan and bank guarantee facilities to fund Mahenge.
The financial institutions include The Development Bank of Southern Africa, The Industrial Development Corporation of South Africa and Tanzanian lender CRDB Bank.
The new facilities are in addition to around $73 million of previously agreed support from South Korean trading house POSCO, including a $58 million equity investment in Black Rock.
The funding support of the African banks is a major de-risking milestone for Black Rock towards funding the development of the Mahenge project.
Black Rock’s definitive feasibility study for the project has defined a four-stage construction schedule to deliver up to 340,000 tonnes per annum of 98.5% graphite concentrate for 26 years of 98.5% premium graphite flake concentrate with the ability to produce Ultra Purity flake of 99%.
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