https://newsletter.mw.creamermedia.com
Africa|Construction|Industrial|Mining|PROJECT
Africa|Construction|Industrial|Mining|PROJECT
africa|construction|industrial|mining|project

South Africa’s IDC approves loan for Tanzania graphite project

15th March 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Tanzanian graphite developer Black Rock Mining has successfully secured the necessary debt facilities required to advance its Mahenge project, with a new senior term loan from South Africa’s Industrial Development Corporation (IDC) completing the financing package crucial to get the mine into production.

The IDC has approved a senior term loan of $53.9-million for the project. Together with the previously announced $59.6-million from the Development Bank of Southern Africa (DBSA), Black Rock now has all the key approvals for the targeted term loan for the project.

The loan terms remain subject to documentation, but the loan tenor is expected to be seven years and the interest rate will be based on the secured overnight financing rate, or SOFR, plus a margin, ASX-listed Black Rock states.

Ultimately, funding for the project to reach production will require both debt and equity. Black Rock previously signed a memorandum of understanding with its strategic alliance partner, Posco, for a potential cornerstone equity position in Black Rock of up to $40-million. Final approvals for this investment are expected shortly, the company notes.

Black Rock aims to have Module 1 at Mahenge in production in 2026.

The definitive feasibility study for the project considers a four-stage construction schedule to deliver up to 340 000 t/y of 98.5% graphite concentrate for 26 years of 98.5% LOI premium graphite flake concentrate with the ability to produce ultra purity flake of 99% LOI.

Edited by Creamer Media Reporter

Comments

Showroom

Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.31 0.388s - 126pq - 2rq
Subscribe Now