Blencowe Resources has received the final $250,000 tranche of a technical assistance grant from the US International Development Finance Corporation (DFC), bringing total funding received under the grant to $5 million, the company announced on October 20, 2026.

The final payment follows a review of the definitive feasibility study (DFS) for Blencowe's Orom-Cross graphite project in Uganda.

The company said completion of the review marks another milestone as the project advances toward development.

“Receipt of the final $250,000 tranche means Blencowe has now received the full $5-million technical assistance grant from DFC, representing another important milestone for Orom-Cross,” said Blencowe chairperson Sam Quinn. “The grant has supported a substantial body of technical work through completion of the DFS and associated independent review process, while DFC’s continued support provides a strong endorsement of the project’s potential and strategic importance”.

Blencowe said its immediate focus remains closing financing for Phase 1 of Orom-Cross while continuing discussions and preparatory work on the longer-term Phase 2 funding structure.

“The result is a significantly more advanced and derisked project than when the DFC programme began,” said interim CEO Iain Wearing. “Orom-Cross now combines scale, robust economics, independently validated graphite quality, a clear development pathway and multiple higher-value downstream opportunities, providing a strong platform as we progress Phase 1 funding and advance towards development”.

The project is viewed as strategically important as the US government continues to prioritise critical minerals and energy transition projects.