Black Rock Mining partners with POSCO International

Australia's Black Rock Mining has signed a non-binding memorandum of understanding with POSCO International, committing to guarantee the long-term purchase of fine graphite from Module 2 of the Mahenge project in Tanzania.

In exchange, POSCO will invest an additional $40 million or acquire up to 19.99% of Black Rock's shares, reducing operational risks and increasing visibility in funding and production routes.