Blencowe Resources today announced a major non-binding offtake agreement with UK-based Perpetuus Advanced Materials (PAM)

PAM specialises in plasma-treated, surface-engineered graphenes—making fine flake graphite ideal feedstock for its industrial graphene processes. This partnership gives Blencowe a direct route into Western markets and supports its strategy of shifting away from lower-profit bulk markets into premium quality applications for sectors like automotive, electronics, and defence

Why This Matters

Higher-value Western Pricing:

Western markets are reportedly willing to pay over US $1,200 per tonne for premium fine flake graphite—significantly more than similar products sold into Asian markets 

UK Government Funding Access:

Sales into UK markets via a domestic partner like PAM position Blencowe favourably for UK critical mineral funding schemes, which require domestic offtake into export-driven supply chains

The UK Export Finance (UKEF) is the UK’s government-backed export credit agency and ministerial department, whose mission is to “ensure no viable UK export fails for lack of finance or insurance.”  As a result of this agreement with PAM, Blencowe could potentially secure a portion of its project finance from UKEF.  In 2023–24, UKEF backed £8.8 billion in export support. It’s also tasked with expanding SME participation, targeting support for up to 1,000 small businesses annually by 2029

Strategic Commercial Validation:

The offtake deal further validates the quality of Orom-Cross’ graphite and reinforces investor confidence in Blencowe’s ability to deliver premium product at scale. Separately, Blencowe has already been confirmed as the exclusive supplier of natural flake graphite concentrate for the European Union’s flagship SAFELOOP programme, part of the €100 billion Horizon Europe energy transition initiative.

A Significant Partnership

Blencowe’s agreement with PAM enables access to UK critical minerals funding schemes, which require offtake into domestic export-driven supply chains. This alignment strengthens Blencowe's financial credibility and potentially reduces project financing risks as it moves toward commercial production.

Given UKEF’s increasing emphasis on critical minerals financing, supporting materials like graphite essential to UK-based manufacturing supply chains, this deal enhances Blencowe’s eligibility for future support.

What's Next?

Blencowe continues negotiations with other OEMs and downstream processors across the UK, EU, and US following a successful marketing roadshow. Early feedback on product testing has been encouraging, and the company remains focused on building a diversified offtake portfolio—crucial for future Phase 2 (50,000 tpa+) output ambitions

Blencowe is closing in on completion of the DFS (Definitive Feasibility Study) expected by year end with environmental approvals and a full production mining license already in place.   In addition the company has Letter of Intent (LOI's) in place with key potential funding partners such as the "US DFC" (Development Finance Corporation) and the African Finance Corporation ("AFC").

The company remains on track toward first production, currently targeted for 2026