Blencowe receives another $500 000 tranche in US grant funding
London-listed Blencowe Resources has received a fourth tranche of funding worth $500 000 from the US International Development Finance Corporation (DFC), which is the US government’s private sector lending arm.
The latest payment, which adds to drawdowns worth $3.5-million to date, is supporting the company’s definitive feasibility study (DFS) work on the Orom-Cross graphite project, in Uganda.
Blencowe signed the technical assistance grant agreement with the DFC in September 2023 for a total value of $5-million.
A further $1.5-million remains undrawn pending future commitments, with the company also using its own funds raised towards the DFS.
Orom-Cross is one of the few preproduction resource projects worldwide that has received a US government grant.
Blencowe continues to consider all means possible to add value at Orom-Cross, using the project's unique characteristics to appeal to graphite industry leaders.
Orom-Cross is becoming well known in graphite markets as one of the lowest operating cost producers worldwide that can also be brought into production for a much lower capital cost than most of its peers, says chairperson Cameron Pearce.
He adds that the high quality of the project’s end products has attracted a host of interested parties for offtake discussions, and the company is working through a rigorous final bulk sample testing process to become qualified before signing offtake agreements.
“The DFC involvement in the project provides Orom-Cross with top tier international funding party credibility, as well as actual cash towards the completion of the DFS. This unique collaboration is another key differentiating factor for the company,” Pearce concludes.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
