REG - Blencowe Resources - ESIA Approval

Blencowe ResourcesAnnouncement

21/03/2025 07:00

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RNS Number : 6499B  Blencowe Resources PLC  21 March 2025

 

Date: 21 March 2025

 

Blencowe Resources Plc

("Blencowe" or the "Company")

 

 Revised ESIA approved for the Orom-Cross Graphite Project

New Initiative Enhances Sustainability & Strengthens Commercial Pathway

 

Blencowe Resources (LSE: BRES) is pleased to announce that the National
Environmental Management Authority (NEMA) of Uganda has approved its revised
Environmental, Social, Impact Assessment ("ESIA") for the Orom-Cross graphite
project.

Following the Company's enlarged development strategy in 2024, the size and
scale of the project has been expanded significantly, with substantial changes
enhancing both environmental and social aspects. This required a comprehensive
review of the previously approved ESIA to reflect updated production scope
and sustainability commitments and formed part of the ongoing broader
Definitive Feasibility Study.

The updated ESIA was submitted in October 2024, and its fast-tracking
approval highlights the Ugandan Government's strong support as a strategically
important mining project.

 

Key Enhancements in the Revised ESIA:

·    Tripling of planned production rates, increasing Orom-Cross's
commercial potential and returns.

·    Adoption of a dry stack tailings disposal method, reducing
environmental impact and enabling material reuse in local construction
industries.

·      Integration of hydropower from the national grid, as a cheap,
sustainable energy source, complemented by additional solar
installations for enhanced energy security and backup.

·      Expanded community initiatives, reinforcing Blencowe's commitment
to long-term social and economic benefits for local stakeholders.

 

The ESIA revision was conducted in collaboration with Tenvicon a leading
Ugandan environmental consultancy and involved extensive community engagement
and government consultation to ensure alignment with national sustainability
objectives.  Integration of hydroelectric power from the Ugandan national
grid provides a cost-effective means to provide sustainable energy for the
mine site and processing plant, thus allowing Blencowe to deliver green
graphite products sought after by end users.

Executive Chairman Cameron Pearce commented:

"We remain fully committed to developing Orom-Cross as one of the world's
leading sustainable graphite projects, with a strong focus on environmental
responsibility and community engagement. Achieving near net-zero operations is
a priority, and this revised ESIA reflects our proactive approach to
integrating renewable energy, innovative waste management solutions, and
meaningful social programs into our development plan."

"This updated ESIA is also highly significant from a financing perspective.
Many of our strategic funding and offtake partners prioritise sustainability
and ESG excellence, and securing this approval strengthens our position as a
preferred supplier of responsibly sourced graphite. The approval also enables
us to align our expanded production ambitions with the regulatory framework,
ensuring we can scale operations efficiently as we advance the Definitive
Feasibility Study (DFS) and move toward production."

 

 

For further information please contact:

 Blencowe Resources Plc  www.blencoweresourcesplc.com (http://www.blencoweresourcesplc.com)
 Sam Quinn               Tel: +44 (0)1624 681 250

                         info@blencoweresourcesplc.com (mailto:info@blencoweresourcesplc.com)
 Investor Relations
 Sasha Sethi             Tel: +44 (0) 7891 677 441

                         sasha.sethi@blencoweresourcesplc.com
                         (mailto:sasha.sethi@blencoweresourcesplc.com)

 Tavira Financial
 Jonathan Evans          Tel: +44 (0)20 3192 1733

                         jonathan.evans@tavira.group (mailto:jonathan.evans@tavira.group)

 Twitter                 www.twitter.com/BlencoweRes (https://twitter.com/BlencoweRes)

 LinkedIn                www.linkedin.com/company/blencowe-resources/
                         (https://www.linkedin.com/company/blencowe-resources/)

 

 

 

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and
end-product quality, with a high component of more valuable larger coarse
flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government
in 2019 following extensive historical work on the deposit.  Blencowe
completed a successful Pre-Feasibility Study on the Project in July 2022 and
is now within the Definitive Feasibility Study phase as it drives towards
first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with an initial
JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total
Graphite Content). This Resource has been defined from only ~2% of the total
tenement area which presents considerable upside potential ahead.
Development of the resource is expected to benefit from a low strip ratio and
free dig operations together with abundant inexpensive hydro-electric power
off the national grid, thereby ensuring low operating costs.  With all major
infrastructure available at or near to site the capital costs will also be
relatively low in comparison to most graphite peers.

In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced
downstream graphite processing partners to ultimately produce upgraded 99.95%
SPG in Uganda.  This strategy has several key advantages plus substantial
cost savings which will assist deliver a world class project once DFS is
completed.

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