LONDON - Jangada Mines plc, the AIM-listed mining development company, has noted an announcement from its investee Blencowe Resources PLC (LSE:BRES), detailing its new role in the European electric vehicle (EV) supply chain. As the exclusive supplier of natural flake graphite concentrate for the SAFELOOP consortium, Blencowe's Orom-Cross project in Uganda is positioned to support the European transition to renewable energy.
SAFELOOP, part of the European Commission's Horizon Europe Programme, focuses on advancing battery technology for EVs. Blencowe has secured a contract to supply up to 100,000 tonnes annually of graphite concentrate, which is expected to command premium pricing compared to Asian markets. The partnership is seen as a significant step for Blencowe, enhancing the financial prospects of the Orom-Cross project and establishing it as a key player in the critical EV materials market.
Blencowe's graphite will be processed into battery anodes by American Energy Technologies Co. (AETC), and utilized in Gen3 Li-Ion batteries for EV buses, confirming the high quality of the Orom-Cross graphite. This collaboration aligns with SAFELOOP's focus on safety, sustainability, and performance of European Gigafactory-scale battery cells.
The Orom-Cross project is anticipated to start production by 2026, with the SAFELOOP initiative expected to provide a substantial long-term income stream for Blencowe. Additionally, the project will undergo an EU Green Passport evaluation, potentially opening further opportunities within the European and North American markets.
The announcement from Blencowe Resources outlines their selection as the exclusive supplier for SAFELOOP and highlights the strategic importance of the Orom-Cross graphite project. It underscores the potential for the company to secure a leading position in the global graphite market and contribute to Europe's renewable energy objectives.
This news is based on a press release statement and provides an overview of the recent developments regarding Blencowe Resources PLC's involvement with the SAFELOOP project.
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