Black Rock signs US$179m Agreement with DBSA, IDC and CRDB to develop Mahenge Graphite Mine

Black Rock Mining ASX.BKT
  • Black Rock signs Agreement with
    • The Development Bank of Southern Africa (DBSA);
    • The Industrial Development Corporation of South Africa (IDC); and
    • Tanzanian lender CRDB Bank (CRDB).
  • The Agreement provides US$179m in loan and bank guarantee facilities to fund the development of the Mahenge Graphite Project, comprising:
    • US$113m Construction Term Loan;
    • US$20m Revolving Credit Facility (working capital);
    • US$20m Cost Overrun Facility; and
    • US$26m Bank Guarantee Facility (rehabilitation bonding).
  • These facilities are in addition to the US$50m being provided by POSCO, comprising the recently approved US$40m equity investment in Black Rock and the US$10m prepayment facility

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/Public Release.