Blencowe Resources Plc is pleased to announce the signing of an additional non-binding Memorandum of Understanding (‘MOU’) for natural medium flake concentrate offtake from its Orom-Cross Graphite Project. The offtake agreement is with Yunasko Ltd. (‘Yunasko’), an advanced technology company headquartered in London and Kyiv, and a recognised leader in energy storage and ultracapacitor technologies used across next generation industrial and defence applications.

This new MOU follows recent Blencowe senior management engagements in the United States and Europe and reflects the strong response to ongoing successful test work confirming the consistently high-quality of product from Orom-Cross graphite.

Highlights:

• Non-binding five-year MOU with Yunasko for five years to supply of an initial 500 tonnes per annum of purified medium flake graphite.
• Yunasko is a leading innovator in advanced supercapacitor energy systems serving high-specification energy storage and defence markets.
• Pricing to be agreed under a formal binding agreement within 24 months.
• Blencowe continues to progress positive discussions with multiple OEMs and strategic downstream users engaged during recent US and European marketing initiatives.

The Yunasko MOU covers a niche, high-value component of the Company’s medium flake (+100 mesh) graphite output during the first five years of production. Yunasko’s initial 500 tonnes per annum requirement is anticipated to increase as the commercial relationship matures.

The product will be further upgraded in Chicago, USA by Blencowe’s US technology partner, American Energy Technology Co. (‘AETC’), enabling Yunasko to purchase a premium-grade materials.

Blencowe is also advancing discussions in the United States with additional OEMs and leading downstream processors for both large flake products and smaller flake categories. Several Groups are currently undertaking qualification test work on Orom-Cross material, and the Company anticipates further MOUs to be concluded as these programmes advance. Market engagement remains strong, and the Company is progressing discussions with additional potential offtakers worldwide as it builds toward a diversified suite of sales agreements ahead of first production.

Executive Chairman Cameron Pearce commented:

‘We are pleased to add a further high-quality European offtaker to our growing portfolio particularly one operating at the forefront of energy storage innovation. Supercapacitor applications require exceptionally consistent, high-grade material and Orom-Cross, supported by AETC’s purification capabilities, is ideally suited to meet this demand.’

‘Our graphite is currently undergoing evaluation with a broad range of international end users, and we remain confident of additional offtake agreements following as these programmes progress. Purified material attracts significantly higher pricing than standard concentrates and these higher value customers provide both market credibility and a meaningful uplift on our weighted average selling price.’

Yunasko Executive Chairman Yurii Maletin commented:

‘We are pleased to be working with Blencowe Resources to receive high-quality purified graphite from Orom-Cross natural resource for integration into Yunasko’s next-generation energy storage systems. Our testing, together with American Energy Technology Co.’s purification and downstream processing work, confirms that Orom-Cross provides material of particularly high suitability for these advanced applications.

Yunasko, a leader in high-power ultracapacitor and hybrid energy storage technologies, is driving meaningful innovation in the global energy storage market by delivering faster-charging, longer-life and higher-efficiency solutions. The use of premium purified graphite will further strengthen Yunasko’s ability to develop cutting-edge systems, and we look forward to a long and productive relationship as Blencowe moves towards first production.’

For further information please contact:

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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 has moved into 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.

Yunasko Ltd

Yunasko is a leading developer of high-power energy storage technologies, operating in the United Kingdom and Ukraine. The company specializes in advanced ultracapacitors and hybrid systems that combine the advantages of ultracapacitors with lithium-ion batteries. Yunasko’s proprietary technologies are built around exceptionally low internal resistance, enabling very high power density, minimal heat generation, extended cycle life, and enhanced operational safety.

Yunasko’s performance advantages have been validated by numerous international partners and independent experts, including PSA Group (France), JME Inc., Wayne State University, a U.S. Department of Defense Tier 1 supplier, and MOOG (USA). The company continues to advance next-generation high-power modules for automotive, industrial, grid, and defense applications, positioning itself at the forefront of the rapidly evolving global energy storage market.

American Energy Technologies Company (AETC)

AETC is a woman-owned, privately held business which conducts operations out of the greater Chicago area. In its Wheeling, IL facility, AETC operates three business units: a manufacturing plant making battery-ready graphite and carbon materials, a pilot demonstration facility for battery materials and graphite dispersions, and a fully functional applications laboratory supporting the above business units. Currently, AETC is one of only three organizations which commercially manufacture lithium-ion battery-ready graphite in the United States. Furthermore, AETC’s Wheeling, IL plant is currently the only industrial end-to-end commercial manufacturer of spherical purified surface coated natural graphite in the US. In doing so, the company develops and operates an upstream ore beneficiation, unique refining, particle spheroidization, and carbon coating technologies. AETC is both developing and producing spherical graphite (natural and synthetic), expanded graphite, partially graphitized nanostructured carbons, ultra-high purity graphite-based electrically conductive inks, paints, and coatings which find use within the industry. AETC is a proud supply chain member of electric vehicles and an approved supplier to twelve battery manufacturers and one fuel cell producer. For more information you can visit: https://www.usaenergytech.com/news

Source

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that the Government of Greenland has granted an Exploitation Licence for the Amitsoq Graphite Project to Greenland Graphite a/s (‘Greenland Graphite’), a wholly owned, Greenland registered subsidiary of GreenRoc.

On 8 December 2025, the Minister of Business, Mineral Resources, Energy, Justice and Gender Equality Naaja H. Nathanielsen, together with Stefan Bernstein, Director of Greenland Graphite, signed a 30-year exploitation permit for graphite at Piiaaffik Amitsoq, the placename for the Amitsoq graphite deposit. This follows the Government of Greenland’s approval, on 4 December 2025, of the Amitsoq project Terms of Reference and associated White Paper.

The Minister of Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, said at the signing ceremony:

‘Greenland Graphite’s exploitation licence is the third exploitation licence granted by the Government of Greenland this year. This is a very positive record and it is particularly worth noting that the process from submitted application to issued exploitation licence has only taken 1 year and 3 months. This is significantly faster than in many other countries and clearly demonstrates that the revised Mining Act is working as intended. The aim was to streamline the procedure without compromising high environmental standards, safety and social responsibility. Today’s exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment.’

CEO of GreenRoc, Stefan Bernstein, said at the signing ceremony:

‘It is a great pleasure for me today, on behalf of our Company, to confirm the grant of the Exploitation Licence for graphite at Amitsoq. This is a very important milestone for GreenRoc on the road to making graphite production in Greenland a reality again, 100 years after the closure of the Amitsoq mine.

‘Graphite is an important raw material for the energy transition and Europe lacks secure access to it. At Amitsoq, we have proven graphite ore for many decades of operation. At the same time, we are very aware that extraction from Amitsoq must benefit Greenland, and especially the communities in South Greenland, and we look forward to listening to and cooperating with the citizens of South Greenland along the way.

‘It is gratifying that the Government of Greenland is contributing to making Greenland an attractive place to invest in raw materials projects. In a world where political approval of a mining project can drag on for decades, Greenland really stands out, without compromising on environmental and social requirements, and this Exploitation Licence is an excellent expression of that.’

Minister of Industry, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, and GreenRoc’s CEO Stefan Bernstein at the signing ceremony in Nuuk

Next steps

Greenland Graphite a/s has chosen that its project terms of reference should be submitted for public consultation only, without the project descriptions for Environmental Impact Assessment (EIA Report) and Social Impact Assessment (SIA Report). The Exploitation Licence is the political approval of the mining project at Amitsoq. Before construction and mining activities can commence, an Impact Benefit Agreement and Mine- and Closure Plan must be approved.

Greenland Graphite is in the process of preparing the project descriptions for the EIA report and SIA report. Following the approval of the EIA and SIA reports by the Government of Greenland, Greenland Graphite will have until 31 December 2028 to submit a mining and decommissioning plan and must commence mining activities by 31 December 2030, unless otherwise approved.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material – an indispensable component of Li-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark (‘EIFO‘), for the financing of the Company’s work programme.

Source

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that the Government of Greenland has granted an Exploitation Licence for the Amitsoq Graphite Project to Greenland Graphite a/s (‘Greenland Graphite’), a wholly owned, Greenland registered subsidiary of GreenRoc.

On 8 December 2025, the Minister of Business, Mineral Resources, Energy, Justice and Gender Equality Naaja H. Nathanielsen, together with Stefan Bernstein, Director of Greenland Graphite, signed a 30-year exploitation permit for graphite at Piiaaffik Amitsoq, the placename for the Amitsoq graphite deposit. This follows the Government of Greenland’s approval, on 4 December 2025, of the Amitsoq project Terms of Reference and associated White Paper.

The Minister of Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, said at the signing ceremony:

‘Greenland Graphite’s exploitation licence is the third exploitation licence granted by the Government of Greenland this year. This is a very positive record and it is particularly worth noting that the process from submitted application to issued exploitation licence has only taken 1 year and 3 months. This is significantly faster than in many other countries and clearly demonstrates that the revised Mining Act is working as intended. The aim was to streamline the procedure without compromising high environmental standards, safety and social responsibility. Today’s exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment.’

CEO of GreenRoc, Stefan Bernstein, said at the signing ceremony:

‘It is a great pleasure for me today, on behalf of our Company, to confirm the grant of the Exploitation Licence for graphite at Amitsoq. This is a very important milestone for GreenRoc on the road to making graphite production in Greenland a reality again, 100 years after the closure of the Amitsoq mine.

‘Graphite is an important raw material for the energy transition and Europe lacks secure access to it. At Amitsoq, we have proven graphite ore for many decades of operation. At the same time, we are very aware that extraction from Amitsoq must benefit Greenland, and especially the communities in South Greenland, and we look forward to listening to and cooperating with the citizens of South Greenland along the way.

‘It is gratifying that the Government of Greenland is contributing to making Greenland an attractive place to invest in raw materials projects. In a world where political approval of a mining project can drag on for decades, Greenland really stands out, without compromising on environmental and social requirements, and this Exploitation Licence is an excellent expression of that.’

Minister of Industry, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, and GreenRoc’s CEO Stefan Bernstein at the signing ceremony in Nuuk

Next steps

Greenland Graphite a/s has chosen that its project terms of reference should be submitted for public consultation only, without the project descriptions for Environmental Impact Assessment (EIA Report) and Social Impact Assessment (SIA Report). The Exploitation Licence is the political approval of the mining project at Amitsoq. Before construction and mining activities can commence, an Impact Benefit Agreement and Mine- and Closure Plan must be approved.

Greenland Graphite is in the process of preparing the project descriptions for the EIA report and SIA report. Following the approval of the EIA and SIA reports by the Government of Greenland, Greenland Graphite will have until 31 December 2028 to submit a mining and decommissioning plan and must commence mining activities by 31 December 2030, unless otherwise approved.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material – an indispensable component of Li-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark (‘EIFO‘), for the financing of the Company’s work programme.

Source

The silver price hit a new all-time high on Tuesday (December 9), rising as high as US$60.56 per ounce.

The white metal’s rise continues a breakout that began on November 28 after CME Group (NASDAQ:CME) halted trading on the Comex, citing a ‘cooling issue’ at a CyrusOne data center located in a Chicago suburb.

All markets were open and trading by 5:46 a.m. PST that day, but the disruption raised concerns among traders — according to Reuters, the outage was one of the longest in years for CME Group.

Adding fuel to the fire are increased expectations for an interest rate cut from the US Federal Reserve.

The Fed’s next meeting is set to wrap up on Wednesday (December 10), and while market participants were previously divided on whether another cut is coming, CME Group’s FedWatch tool now shows strong expectations for a reduction.

Target rate probabilities for December Fed meeting.

Chart via CME Group.

In addition to that, US President Donald Trump said on November 30 that he has decided who the next Fed chair will be. While he didn’t give a name, people familiar with the news told Bloomberg that Kevin Hassett, director of the White House’s National Economic Council, is seen as the likely candidate.

Trump has frequently criticized current Fed Chair Jerome Powell for not lowering rates quickly enough, and Powell’s replacement is widely expected to be more in line with Trump’s views.

Speaking on CBS after Trump’s comments, Hassett was relatively tight-lipped about the Fed chair position.

“I think that the American people could expect President Trump to pick somebody who’s going to help them have cheaper car loans and easier access to mortgages at lower rate,” he commented.

“That’s what we saw in the market response to the rumor about me.”

Silver price chart, December 1 to 9, 2025.

Silver and its sister metal gold tend to fare better when rates are lower, meaning that December rate cut expectations coupled with the Hassett rumor have helped to stoke prices for the precious metals.

While silver is known for lagging behind gold before outperforming, it’s now ahead in terms of percentage gains — silver is up about 100 percent year-to-date, while gold has risen around 59 percent.

The yellow metal is currently trading above US$4,200 per ounce, but remains below its all-time high.

In addition to rate-related factors, silver’s breakout this year has been driven by various elements.

As a precious metal, it’s influenced by many of the same factors as gold, but its October price jump, which took it past the US$50 level, was also driven by a lack of liquidity in the London market.

While that issue appears to have resolved, a new situation has recently emerged — Bloomberg reported on November 25 that Chinese silver stockpiles are now at their lowest level in a decade after huge shipments to London.

Tariff concerns and silver’s new status as a critical mineral in the US have also provided support in 2025.

The white metal’s industrial side also shouldn’t be forgotten — according to the Silver Institute, industrial demand for silver reached a record 680.5 million ounces in 2024, driven by usage in grid infrastructure, vehicle electrification and photovoltaics. Total silver demand was down 3 percent year-on-year in 2024, but still exceeded supply for the fourth year in a row, resulting in a deficit of 148.9 million ounces for the year.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

BHP (ASX:BHP,NYSE:BHP,LSE:BHP) has secured a fresh source of long-term funding for its iron ore operations in Western Australia, agreeing to a US$2 billion infrastructure deal with Global Infrastructure Partners (GIP).

The Tuesday (December 9) announcement confirms the company has entered into a binding agreement with GIP that covers BHP’s share of Western Australia Iron Ore’s (WAIO) inland power network.

Under the structure, a new trust entity will be created and majority owned by BHP with a 51 percent stake, while BlackRock (NYSE:BLK) subsidiary GIP will take the remaining 49 percent in exchange for its US$2 billion contribution.

Over a 25 year period, BHP will pay the entity a tariff tied to its power use.

The deal gives BHP additional balance sheet flexibility at a time when the company is pursuing a renewed push to grow iron ore volumes. Currently, the company holds an 85 percent interest in WAIO, which spans four major joint ventures supplying some of the world’s most important steelmaking customers.

Operationally, BHP will continue to run the inland power infrastructure and maintain full strategic oversight of WAIO.

The deal does not alter existing joint venture rights or the company’s commitments to Western Australia; ownership of the power network’s physical assets remains unchanged.

In a company press release, BHP Chief Executive Mike Henry framed the transaction as a prudent way to unlock capital without giving up control of core infrastructure.

“We are pleased to partner with GIP on this arrangement that enables BHP to access capital and maintain operational and strategic control of a critical part of WAIO’s infrastructure,” he said.

BHP is in the midst of a long-term push to lift Pilbara production capacity to 305 million metric tons per year. The WAIO business will continue to plan and execute its broader strategy, while keeping optionality for future growth.

Completion is expected toward the end of the 2026 fiscal year, subject to regulatory clearances, including approval from Australia’s Foreign Investment Review Board.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.