30 January 2025
Blencowe Resources
Plc
("Blencowe" or "the
Company")
Orom-Cross Graphite Excels in
SAFELOOP Product Testing
Exceptional Results Underpin the
Project's Strategic Importance
Blencowe Resources (LSE: BRES) is pleased to announce
significant progress within Project SAFELOOP, a European Union-led
initiative under the €100 billion Horizon Europe Programme focussed
on the European Union's renewable energy transition. SAFELOOP aims
to deliver a Gen3 Lithium-ion battery for standardised EV buses,
prioritising safety, recycling, and high performance. Blencowe is
the exclusive supplier of natural flake graphite to the
project.
In collaboration with its US-based technical
partner and graphite specialist American Energy Technologies Co.
("AETC"), Orom-Cross
graphite has undergone initial testing and upgrading to battery
quality material, delivering standout results. Testing confirmed
the exceptional purity of Orom-Cross graphite, with thermal
refinement to 99.98% wt%C - exceeding industry standards.
Furthermore, composite anodes produced with Orom-Cross graphite
achieved an outstanding 68.4 wt% natural graphite content, one of
the highest loadings ever recorded in the battery industry, thus
reinforcing its strategic importance in advanced battery
applications.
Highlights:
·
Ultra-Pure
Graphite: Orom-Cross
graphite thermally refined to 99.98% wt%C, demonstrating
exceptional purity over and above market standards.
·
Industry-Leading
Loadings: Composite anodes using Orom-Cross
graphite achieved 68.4 wt% natural graphite content - one of the
highest loadings recorded in the battery industry specific to the
EV battery anode composition.
·
Superior
Performance: Initial electrochemical tests
indicate outstanding results, driven by the unique properties of
Orom-Cross graphite.
·
Strategic
Potential: SAFELOOP's anticipated graphite
concentrate demand from Orom-Cross could lead to substantial,
high-value offtake opportunities.
Technical Insights and SAFELOOP Progress
During November 2024, Orom-Cross graphite
samples were processed by AETC as part of the SAFELOOP initiative.
These samples underwent thermal purification, shaping, and
composite preparation in which they were co-processed with
synthetic graphite to create high-performance anodes.
AETC, alongside other SAFELOOP expert partners,
is advancing the development of a high-quality Gen3 Li-ion battery
("LIB") for Electric Vehicles to be deployed on European soil. Test
work completed to date indicates exceptionally promising results in
the targeted EV application using Orom-Cross graphite, showcasing
its premium quality.
In one of the composites produced during
shaping and classification the amount of Orom-Cross natural
graphite was a remarkable 68.4 wt% - this is by far one of the
highest loadings of natural graphite into a composition of EV
battery anodes known in the battery industry. By way of reference,
EV anodes are usually synthetic graphite dominant, with the content
of synthetic graphite generally representing anywhere from 75-100%
of anode composition.
Testing will continue into the next phase as
the SAFELOOP project evolves.
SAFELOOP estimates for graphite concentrate
volumes required from Orom-Cross to fulfil battery demand is
projected to be substantial, should the project transition to
commercial-scale production. The SAFELOOP channel therefore
represents a tier one opportunity for Blencowe, with the potential
for premium pricing far exceeding typical market levels.
Executive Chairman Cameron Pearce commented:
"We are very
pleased to see such remarkable results from Orom-Cross graphite,
overlaid with AETC's processing expertise and other SAFELOOP
partners' involvement. Achieving an ultra-pure 99.98% wt%C
graphite and one of the highest natural graphite loadings ever
recorded at 68.4 wt% underscores the high quality of our graphite
deposit and validates the differentiated strategy we have pursued.
SAFELOOP aligns perfectly with our development timeline and its
potential scale offers an exceptional and valuable offtake channel
for the future."
"Our focus
remains on delivering a unique project that stands out in the
graphite sector. By pursuing high-value opportunities like
micronisation, downstream processing, and now SAFELOOP, we are
securing the long-term success of Orom-Cross and building
shareholder value."
AETC Manager of Government Relationship, Anna Doninger
commented:
"The
preliminary conclusions of the test work conducted to date is that
Blencowe's natural graphite could become an enabling technology for
making an EV battery grade composite anodes which contain both
natural crystalline flake and synthetic graphites as a coherent
whole, and which are simultaneously dominant in their use of
natural graphite, behaving at an impressive level in
electrochemical performance. This is yet another testimony to the
premium quality of Blencowe's natural graphite and its excellent
potential for application in the EV battery
market."
Strategic Outlook
Blencowe is proud to support SAFELOOP in developing safer,
part-recycled, high-performance EV batteries. The Company continues
to position Orom-Cross as a globally significant graphite project
through innovation, strategic partnerships, and market
differentiation.
For further information please
contact:
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
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 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 and Blencowe 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 a maiden JORC Indicated & Inferred
Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content.
Development of the resource is expected to benefit from a low strip
ratio and free dig operations, thereby ensuring lower operating and
capital costs.
In 3Q 2024 Blencowe introduced a Joint Venture
concept with experienced downstream graphite processing partners to
ultimately produce upgraded 99.95% SPG (spheronised, purified
graphite) in Uganda. This strategy has several key advantages
including additional returns and substantial cost savings which
will assist deliver a world class project once DFS is
completed.
Blencowe also announced full Minerals Security
Partnership (MSP) accreditation in 2024 which provides additional
tier-one credibility plus further support from this highly
influential quasi-Government organisation. Together with the
US$5 million grant funds received from the US Government via the
Development Finance Corporation, the Company is building unique and
solid relationships to assist with funding solutions for Orom-Cross
project implementation.
