Tanzanian graphite developer Black Rock Mining Limited (ASX: BKT) has secured an extension to its US$204m credit facility agreement, extending the deadline to achieve Financial Close to 30 November 2026. This extension provides the company with the necessary financial runway to finalise the remaining equity investment required to fully fund the development of the Mahenge Graphite Project in Tanzania.
Material actions and disclosures
During the quarter, Black Rock Mining Limited reported progress on its ESG initiatives. The company’s ESG activities focused on advancing the Early Works program, including tendering the Biodiversity Offset Plan, relocating a weather station, and completing community programs such as the handover of renovated school facilities and the construction of a secondary school well.
The company also completed the Faru John Road physically displaced Project Affected Persons (PAP’s) Monitoring Report and ensured transitional support for affected individuals until the end of 2026. Additionally, the Mahenge Graphite Project Displaced PAPs Monitoring Report was published in August 2026.
Forward commitments
Black Rock Mining Limited aims to continue progressing discussions with potential funding partners across a range of equity structures to secure the remaining equity investment required for the project. The company remains focused on completing project financing and progressing towards a fully funded Final Investment Decision.
Black Rock Mining Limited is an Australian-based company listed on the Australian Securities Exchange (ASX: BKT). The company has an 84% interest in the Mahenge Graphite Project, which is one of the largest JORC-compliant flake graphite resources globally.
These developments reflect the company’s commitment to advancing the Mahenge Graphite Project while adhering to its ESG principles.