UK-based mining company Blencowe Resources has secured a $500,000 grant from the U.S. International Development Finance Corporation (DFC) to further develop its Orom-Cross Graphite Project in Uganda.
This latest grant brings DFC’s total technical assistance funding for the project to $5 million, with an additional $1 million expected to be disbursed in two tranches.
Cameron Pearce, Executive Chairman of Blencowe Resources, said the grant underscores the strategic importance of Orom-Cross as a reliable, large-scale source of critical minerals to support energy storage solutions in the United States.
Blencowe is progressing toward the completion of a Definitive Feasibility Study, having already finalized micronisation tests and an Environmental and Social Impact Assessment (ESIA) in the first quarter of 2025.
Testing has confirmed that the project offers low capital and operational costs, attracting interest from Tier-1 buyers.
A joint venture agreement, signed in Q3 2024, is expected to support the development of a downstream processing facility.
