• Black Rock Mining to raise A$12M for Tanzania graphite project
• Funds to start Mahenge mine works, full build costs at $225M
• Project targets 340,000 t/y output, production expected from 2026

Black Rock Mining plans to raise up to A$12 million (about $7.8 million) to advance its Mahenge graphite project in Tanzania. The company announced Tuesday, September 2, 2025, that the funds, which will be raised through a two-tranche share placement and a share purchase plan, will finance the start of construction on the future mine.

“We are pleased with the support for the Placement, that allows us to commence early works on the Mahenge Graphite Project,” said CEO John de Vries in a company note. “The funds will allow us to continue to advance the Project whilst completing the funding strategy for the remaining build cost.”

Mahenge is one of the key graphite projects under development in Tanzania, with production expected to begin by 2026. Black Rock Mining anticipates an annual output of 340,000 tonnes of concentrate over a 26-year mine life. The total investment for the project is estimated at $225 million, with $138 million allocated for the construction of Phase 1.

Few other details have been released about the initial work or the process for securing the remaining funding. Black Rock has already signed a series of agreements with several financial partners to raise a total of $204 million for Mahenge, although securing those funds has not been finalized.

The financial operations to raise the $7.8 million are also contingent on shareholder approval, who are scheduled to vote on the matter at a general meeting in October.

Aurel Sèdjro Houenou