Blencowe Resources (LSE:BRES) has secured an option to acquire a 100-acre site approximately 35km north of Gulu in northern Uganda, where it plans to develop downstream processing facilities for its Orom-Cross Graphite Project. The agreement, valued at US$70,000, has been structured as a phased option, allowing the company to align land acquisition with its staged project development while retaining flexibility to expand operations as production increases.
The proposed site benefits from access to Uganda’s hydro-powered national electricity grid and a permanent water supply, providing key infrastructure to support cost-efficient graphite beneficiation. Blencowe intends to establish what it says would be Africa’s first graphite spheronisation and purification plant, alongside facilities for expandable graphite production. The investment is expected to strengthen Uganda’s strategy of adding value to mineral resources domestically while positioning Orom-Cross as a scalable, non-China source of processed graphite for Western markets. Environmental and Social Impact Assessment (ESIA) work and infrastructure studies are continuing as the project advances.
Despite the strategic progress, Blencowe’s investment outlook remains constrained by its financial profile. The company is still pre-revenue, continues to report losses and generated weaker negative operating and free cash flow during 2025. Technical indicators also remain subdued, with the shares trading below key short-term moving averages and momentum remaining weak. Valuation metrics offer limited support given the company’s negative earnings.
More about Blencowe Resources Plc
Blencowe Resources Plc is a London-listed mining company focused on advancing the Orom-Cross Graphite Project in Uganda. The company is developing an integrated graphite business that extends beyond concentrate production by investing in downstream processing to manufacture higher-value graphite products for Western supply chains seeking alternatives to Chinese supply.
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