What's Happening?
Blencowe Resources has completed major infrastructure workstreams for its Orom-Cross graphite project in Uganda, as part of its definitive feasibility study (DFS). The company has also concluded a significant drilling campaign aimed at increasing mineable reserves and exploring new deposits. The DFS work aligns with milestones set by the US International Development Finance Corporation (DFC), which has invested $4.75 million in the project. The infrastructure includes substations for hydropower, road upgrades, and water and communication facilities, positioning Orom-Cross as a potential supplier of 'green graphite' with strong environmental credentials.
Why It's Important?
The completion of infrastructure at Orom-Cross is a critical step in de-risking the project and advancing towards production. The project's focus on sustainable and low-cost graphite production aligns with the growing demand for environmentally friendly materials, particularly in the battery and electric vehicle industries. The investment by the DFC underscores the project's potential and its alignment with global sustainability goals. The development of Orom-Cross could enhance Uganda's position in the global graphite market, providing economic benefits and job opportunities.
What's Next?
Blencowe is expected to release assay results from its drilling program soon, which could lead to an upgrade in the project's resource estimates. The company is also progressing towards completing the DFS, which will provide a clearer timeline for production. The ongoing infrastructure developments and potential resource upgrades could attract further investment and partnerships, accelerating the project's path to market.
