Tanzanian graphite company Black Rock Mining has agreed a binding offtake deal with Posco, including a prepayment of $10 million, to feed the South Korean conglomerate's growing anode business
ASX-listed Black Rock Mining has signed a binding offtake agreement with strategic alliance partner POSCO covering all of the planned life-of-mine graphite fines for Module 1 of the Mahenge project, in Tanzania.
The agreement includes a $10-million pre-payment commitment which is linked to an industry pricing benchmark, with the funding to be used as part of the construction financing for the Mahenge project.
POSCO International has entered the secondary battery materials business in support of its parent firm s effort to specialize in eco-friendly materials, a company official said Monday. The trading firm signed a long-term supply contract with FARU Graphite in Tanzania, a subsidiary of Australian mining company Black Rock Mining, to receive 750,000 tons of natural graphite over the next 25 years after investing $10 million (13.2 billion won).
Black Rock Mining has signed a nonbinding memorandum of understanding over the supply of high-quality natural large flake graphite concentrate from the Mahenge project.