Blencowe Resources PLC (LSE:BRES) has received a further $750,000 in grant funding from the United States International Development Finance Corporation, as the London-listed miner pushes ahead with the development of its Orom-Cross graphite project in Uganda.

The latest payment brings the total funding received under a $5 million technical assistance package to $4.75 million. 

The final $250,000 will be released on completion of a definitive feasibility study, a technical assessment that outlines how the mine will be built, operated and financed.

The funding is non-dilutive, meaning it does not involve the issue of new shares and avoids any watering down of existing shareholder value.

It forms part of a broader initiative by Washington to secure critical minerals supply chains amid a global push for cleaner energy technologies.

Graphite, used in electric vehicle batteries, is one of several minerals classified as strategically important by the US government.

To unlock the latest tranche, Blencowe completed all required infill drilling to strengthen its mineable reserves and finished work on key infrastructure, including roads, water supply, communications and camp facilities.

These steps are essential for the feasibility study and ultimately for construction to begin.

Once assay results are in, South African consultancy Minrom will deliver an updated resource estimate under the Joint Ore Reserves Committee (JORC) code, the industry standard for mineral reporting.

This is expected to convert more of Orom-Cross’s graphite into proven reserves, giving the project a longer mine life and greater production potential.

Blencowe said the DFS will be the basis for final mine design and commercial planning at a time when global graphite demand is forecast to double, driven largely by growth in battery and electric vehicle production.

However, new supply remains limited, giving projects such as Orom-Cross an opportunity to fill the gap.

Chairman Cameron Pearce said: "This latest tranche of funding from the DFC brings us closer to unlocking significant value at Orom-Cross. Their continued support is a strong endorsement of the project's potential and strategic importance."

"As the revised JORC Resource is finalised and the Definitive Feasibility Study completed, we are approaching a clear value inflexion point." Proactive