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Black Rock Mining agrees MOU with major Korean industrial group for Mahenge project development

Black Rock Mining Ltd's (ASX:BKT) managing director and CEO John de Vries speaks to Proactive's Andrew Scott after signing a non-binding Memorandum of Understanding (MOU) with major Korean industrial group POSCO to form a strategic alliance and development relationship for the Mahenge Graphite Project in Tanzania.

The first phase of the investment agreement anticipates an initial investment of up to US$10 million by a subscription for shares and/or convertible notes in Black Rock.

Black Rock aims to fund a program of engineering works including design, completion of contracts and early site access to establish a construction-ready site by the end of 2020.

Quick facts: Black Rock Mining Ltd

Price: 0.06 AUD

Market: ASX
Market Cap: $37.74 m

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Full interview: Black Rock Mining enters EPC framework agreement with China...

Black Rock Mining Ltd (ASX:BKT) chief executive officer John de Vries updates Proactive on the company entering into a non-binding Cooperation Framework Agreement with China Railway Seventh Group (CSRG). China Railway Group is one of the largest construction companies in the world. The...

on 23/1/20

2 min read