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Black Rock Mining moves along path towards graphite exports with Tanzanian Government regulations

Proactive Investors Monday, 14 September 2020
Black Rock Mining Ltd (ASX:BKT) has welcomed the publication of regulations by the Government of Tanzania concerning graphite concentrate exports which establishes a firm path to advance the Mahenge Graphite Project. The progression from guidelines to regulations comes with the issuing of Government Notice 687 of 2020 ‘The Mining Regulations, 2020’. This continues the policy of maintaining a minimum graphite concentration of 65% total graphitic carbon and payment of royalties as conditions of export. Black Rock has demonstrated in two independent pilot plant operations that Mahenge can produce graphite concentrate at grades up to 98% carbon by Loss on Ignition (LOI), which confirms the company’s DFS showing that Mahenge concentrate is suitable for export. Important milestone Managing director and CEO John de Vries said: “This update is important as it transitions the 2019 guidelines to regulations.   “Having clarity on export controls for graphite products is an important and timely step for Black Rock, and our 100%-owned operating company, Mahenge Resources Limited, for meeting likely financial conditions precedent as part of the development of the Mahenge Graphite Project.” POSCO progresses graphite due diligence Meantime, Black Rock’s strategic alliance and development partner POSCO Ltd is making meaningful progress on due diligence for the Mahenge project, with battery manufacture and extended battery performance testing work. POSCO has so far completed work which includes performance testing of lithium-ion batteries produced using coated anode made from spheronised Mahenge graphite. It has also undertaken reversible capacity testing on test cells manufactured from Mahenge graphite which showed equivalent level of performance to POSCO’s optimised commercial reference anode; and the initiation of long-term cycle testing of the cells. Investor briefing The company will host an investor briefing webinar this Thursday, September 17, at 9am AEST. Managing director John de Vries and chairman Richard Crookes will present during the briefing and participants can register via this link.
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