Tanzanian graphite developer Black Rock Mining Limited (ASX: BKT) has finalized full-form offtake agreements for large flake graphite concentrate with two significant customers, Muhui International Trade and Qingdao Yujinxi New Material. The agreements include the supply of 15ktpa of large flake concentrate under each contract, with the option for buyers to purchase an additional 10ktpa. The initial term is three years, extendable by two more years at the buyers' discretion, with pricing linked to RefWin and ICCSino indices. This development stems from Faru Graphite Corporation, Black Rock's 84 %-owned subsidiary, signing the agreements for the Mahenge Graphite Project's production.
Black Rock is now fully prepared for construction, pending financing. The company has secured approvals for US$153m in debt facilities from DBSA, IDC, and CRDB, announced on March 18, 2024. The Ore Reserves and Mineral Resources supporting the production target have been assessed by competent individuals in compliance with the JORC Code's criteria, further solidifying the company's readiness for the next phase of the project.
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