Black Rock raises A$25m

DODOMA — Graphite developer Black Rock Mining will raise A$25 million in a share placement to institutional and professional investors, to advance the development of its Mahenge project, in Tanzania. The ASX-listed company on Friday announced that it had received rm commitments for the placement of more than 104.1 million shares, at a price of 24c each. The shares will be issued under the company’s existing placement capacity. “The company is pleased to strengthen the balance sheet ahead of development of the Mahenge graphite mine. We are also pleased by the level of interest from existing and new institutional investment groups as the criticality of graphite in the EV supply chain becomes more apparent,” said CEO John de Vries.—