Page 58 - pd296-August21-mag-web

AFRIcA DoWn UnDeR PReVIeW

urbix provides the

spark for Mahenge

hey say opposites attract and that is stream. So we can mine for two makers and million for a 15% stake in the ASX-listed
Texactly why Tanzanian graphite hopeful they can make for two miners. And that’s company.
Black Rock Mining Ltd was drawn towards really how you should be doing things. “What the POSCO investment has done
its new supply chain partner Urbix Inc. “I’m on record as saying we’re not go- is legitimise what we have been saying for
Black Rock last month signed a MoU ing to go downstream because manage- quite some time,” de Vries said.
with US-based advanced materials tech- ment simply doesn’t have the bandwidth “There are a lot of claims in the graphite
nology company Urbix to jointly explore to be able to build a mine in Tanzania and space, so to have a company of the brand
“innovative” opportunities for the supply of then execute downstream. Trying to do two and quality of POSCO come in and make
processed material from the former’s Ma- things at once is distraction therapy, so that investment, it independently verifies
henge graphite project into the emerging you’re better off working with people who what we’ve been saying about flake chem-
western battery anode markets. can do that sensibly. However, what we do istry, yields and process behaviour. We
Urbix has already produced battery an- want to be able to do is capture as much of remain the only graphite developer to have
ode material from Mahenge graphite con- the value in use and benefit that our flake a western cornerstone offtaker make an
centrates, with an initial batch submitted can do.” equity investment and it just continues to
to substantial Black Rock shareholder and One of the other major advantages for underline the really unique flake chemistry
development partner POSCO for qualifica- Black Rock in entering into a partnership which sits in Mahenge.
tion. Further samples are being prepared with Urbix is access to patented refinement “The obvious next question is how do we
for ongoing testing. techniques which have been proven to low- turn that into finance.”
Under the MoU, both parties will work to er production costs and reduce the environ- As de Vries eloquently puts it, the “ele-
mental footprint phant in the room” for aspiring Tanzanian
from avoiding the miners remains a resolution on the coun-
traditional need to try’s free-carried interest requirements.
use hydrofluoric There is growing optimism new President
acid. Samia Suluhu Hassan will provide clarity
The Urbix pro- on the subject in the not too distant future,
cessing technol- but for now a project financing solution for
ogy also requires Black Rock remains behind the starting
a much lower en- blocks.
ergy consumption “We’re hearing the rhetoric about Tanza-
and is capable of nia, but we really need to see that rhetoric
generating sig- turn into action,” de Vries said. “Effectively
nificantly higher before we can turn this into finance, we
product yield of need to complete the free-carried interest.
70-80%, com- “The reality is the new President has only
pared to the indus- been in the gig for three months and she’s
try standard 35%. trying to turn around four years of really
Urbix are now quite challenging circumstances. It’s not an
undertaking a excuse for not getting it done, it’s just the
Black Rock managing director John de Vries (right) on site at the second round brutal reality and it takes time for people to
Mahenge graphite project, Tanzania
of testing, with make decisions that don’t create a loss of
samples again face.”
validate and verify scaled-up performance being sent to POSCO for further valida- Black Rock won’t be standing still on the
of the technology at a technical and com- tion. Concurrently, Black Rock is running a project development front while waiting for
mercial level. Following construction of a 500t qualification plant which will produce the finance to arrive. The company recently
detailed processing facility by Urbix to ac- 40-45t of graphite concentrate, from which appointed experienced project manager
cess US markets, the companies will seek de Vries and his team will look to distribute Daniel Pantnay as general manager, engi-
to examine a North Asia opportunity for toll samples to potential customers in the US, neering and technical, and his first task will
processing or JV. Europe and Japan. be to lead the early construction works at
Black Rock managing director John de “The one thing we know from working Mahenge.
Vries said his company had been liaising in graphite as long as we have is there will Some of the funds from the recent
with Urbix for the best part of a year before always be major differences between what POSCO investment are being deployed in ASX:MNB minbos.com
agreeing to draw up a MoU. you see at the lab and what you see in a the resettlement process around Mahenge,
“From the outset what we liked about commercial plant. Scale-up really matters,” while CPC Engineering has started work on
them was they have a very similar outlook de Vries said. revising the capital and operating cost esti-
in life,” de Vries told Paydirt. Black Rock’s partnership with Urbix was mates in order to provide a gross maximum
“We don’t want to go too far downstream confirmed less than a month after POSCO price contract for the EPC.
and they don’t want to come too far up- finalised its strategic investment of $US7.5 – Michael Washbourne

Page 58 aUgUST 2021 aUSTRaLIa’S PaYDIRT

20210628 Minbos_Paydirt_full_page_297x210 FINAL.indd 1 28/6/21 10:14 am