Aspiring junior Black Rock Mining has announced it will raise $10 million in order to finalise preparations at its Mahenge graphite project in Tanzania, prior to its final investment decision release.
Shenghe Resources is set to become a major shareholder in Tanzania-focused Peak Rare Earths after buying a 19.9 per cent stake in the company for well above market price.
Strandline Resources' shares rose 7 per cent this afternoon, as the company and two other WA-based junior miners finalise agreements with the Tanzanian government.
Western Australian companies OreCorp, Black Rock Mining and Peak Rare Earths will finalise agreements with the Tanzanian government this month to develop their projects.
Black Rock Mining has entered into a strategic alliance agreement with South Korean industrial company Posco to develop its flagship graphite project in Tanzania.
Black Rock Mining is gearing up to develop its Mahenge graphite mine in Tanzania, having now opened three offices at local villages. The Mahenge graphite project boasts a 212 million tonne resource grading a respectable 7.8% total graphite content and the company says it has now established key relationships with locals and Government, both of which are key requirements for doing business in Tanzania.
Barrick Gold has resolved a three-year tax dispute with the Tanzanian government, which has lifted a ban on minerals exports, potentially providing a pathway to production for a contingent of Western Australia-headquartered miners and exploration firms.
Black Rock Mining is a step closer to developing its mammoth Tanzanian graphite mine, inking a framework agreement with a Chinese firm to act as head EPC contractor. A deferred payment schedule will result in over 30% of the contract being paid only after the plant passes certain performance hurdles. The agreement is with Chinese Government-owned China Railway Seventh Group Co.
Our daily board moves wrap includes Jeff Dawkins, Dale Hanna, Zhe Gao, Yu Zhong, Ya-Qin Zhang, Anita Hollenberg, Sarah Wilson, Shannon Coates, and David Wheeler.
Black Rock Mining's Mahenge project in Tanzania has successfully produced spherical graphite that exceeds industry standards for battery anode materials with yields of up to 53% and purity of 99.98% TGC during a large-scale trial in a commercial environment. The results are higher than Chinese industrial benchmark yields of between 35% and 45% and purity of 99.5% TGC and replicate results achieved during laboratory testing.
Black Rock Mining has significantly improved the project economics of its Mahenge graphite mine in Tanzania, by ramping up the proposed production rate from 250,000 tonnes per annum to 340,000 tonnes per annum at the request of its offtake customers. The company will add a fourth processing module at the operation to increase production of the highly sought-after, world-class premium graphite flake product.
Black Rock has executed two further Chinese offtake agreements at mutually agreed grades, volumes and prices for the premium graphite flake concentrate products sourced and processed from its impressive Mahenge project in Tanzania. With the pricing framework now in place for four of its five offtake partners, the company is now focussed on delivering an optimised Definitive Feasibility Study for the project.
Black Rock has appointed two experienced executives to support the development and potential construction of its impressive Mahenge graphite project in Tanzania later this year. Ian Murray has joined as a Non-Executive Director and will assist in establishing financing of the project, while Jeffrey Dawkins will work with the Board to institute business platforms to support project development and future mining operations.
Black Rock Mining's Chinese EPC partner Yantai Jinyaun has generated high quality, large flake dominant, graphite concentrates grading 98.7% purity at 95.5% recovery from pilot plant studies on the company's Tanzanian Mahenge ores. The test work was observed by customers, partners and potential investors and completed to validate the company's optimised circuit design and processing flowsheets.
Black Rock Mining's Chinese EPC partner Yantai Jinyaun has generated high quality, large flake dominant, graphite concentrates exceeding 99% purity at 93% recovery from pilot plant studies on the company's Tanzanian Mahenge ores. The work was observed by offtake partners and potential investors and completed to validate the company's optimised circuit design and processing flowsheets.
Panoramic Resources has announced its intention to raise $22.4 million via two share placements and an entitlement offer, while juniors Black Rock Mining and Kibaran Resources are also involved in capital raisings.
Black Rock Mining's EPC partner Yantai Jinyaun has delivered high quality, flake dominant, graphite concentrates exceeding 99% purity at 93% recovery from pilot plant test work studies in China on ores from the company's Mahenge deposit in Tanzania. The work was aimed at optimising circuit design and process flowsheets and resulted in an improved graphite flake distribution, whilst preserving exceptional concentrate grades.
The Tanzanian Government has granted Black Rock Mining two mining licences over its massive Mahenge graphite project and the company now looks to be a real chance at making the quantum leap from explorer to miner. The impressive DFS for Mahenge shows a 32-year project life that could generate a post-tax NPV of USD$895m and an IRR of 42.8% with CAPEX numbers that don't look to be too frightening.
Black Rock Mining has detailed a capital expenditure of $US115 million ($162 million) for the first phase of its Mahenge graphite project in Tanzania, with plans to begin construction next year.
Black Rock Mining has signed a strategic agreement with a Chinese machinery company to supply plant equipment and source up to $US40 million ($55 million) for the graphite explorer's Mahenge project in Tanzania.
Great Southern Mining has received commitments from sophisticated investors for the placement of 34 million shares at an issue price of $0.0375 a share to raise approximately $1.275 million.
Global miner Barrick Gold has announced a deal with the Tanzanian government that involves a 50:50 sharing of benefits from its operations in the country, prompting sharp price movements in local stocks exposed to the region.
Kibaran Resources and Black Rock Mining are the latest Perth-based explorers with operations in Tanzania to come out of a trading halt since legislative changes in the African country were announced.
Exploration companies Orecorp, Cradle Resources and Graphex Mining have been pummelled on the ASX as the market continues to react to changes to mining and exporting laws in Tanzania.
Shares in Tanzania-focused mining and exploration companies were hit again today after they revealed the full slate of planned legislative changes in the African nation, which include the Tanzanian government giving itself the right to get a 16 per cent stake in mining companies for no cost.
Graphite players have posted strong share price gains in the past 12 months and raised $66 million between them, but they are struggling to kick off production of the mineral.
Mineral exploration companies Explaurum and Black Rock Mining have completed capital raisings totalling $10.5 million to advance their gold and graphite projects respectively.
