ASX-listed Black Rock Mining has extended the completion date of a due diligence by Korean major POSCO over the Mahenge graphite project, in Tanzania, until November 20.
The two companies earlier this year inked a strategic alliance and development memorandum of understanding (MoU) over the Mahenge graphite project, which could see POSCO invest an initial $10-million in either shares or convertible notes in Black Rock, with the funding going towards early work programmes and the provision of all weather site access at Mahenge.