Blencowe Resources’ Ugandan Graphite Project Secures Additional U.S. Funding

UK-based mining company Blencowe Resources has secured a $500,000 grant from the U.S. International Development Finance Corporation (DFC) to advance its Orom-Cross Graphite Project in Uganda.

The grant increases DFC’s technical assistance funding for the project to $5 million, with an additional $1 million set to be issued in two tranches.

Cameron Pearce, Executive Chairman, Blencowe Resources said the grant highlights the strategic value of Orom-Cross as a reliable, large-scale source of critical minerals to supply energy storage applications in the U.S.

Blencowe Resources is moving towards the delivery of a Definitive Feasibility Study, having completed micronisation and an Environmental and Social Impact Assessment study in Q1 – 2025.

Test work confirmed the project as a low capital and operational costs facility, attracting interest from Tier-1 buyers. A joint venture agreement signed in Q3 – 2014 will facilitate the development of a downstream processing facility.