Blencowe Resources (BRES ) has signed a Letter of Intent with European specialist graphite processing organisation Alkeemia S.P.A. to provide toll beneficiation and purification services for graphite produced from the Orom-Cross project in Uganda.
The graphite would be processed at a plant being developed by Alkeemia in Italy, delivering cleaner purified graphite than conventional Chinese processing routes and providing Blencowe with an alternative downstream pathway outside China.
This LOI builds on the successful test work announced on 15 January 2026, which demonstrated that Orom-Cross graphite can be purified to 99.99% carbon content, the highest commercially recognised purity, using Alkeemia's proprietary European purification technology. This qualifies the product for sale into niche, high-value end markets where ultra-high purity is required.
Under the LOI there will be an initial allocation of up to 1,000 tonnes per annum at Alkeemia's Italian facility, with the intention to increase volumes over time as both parties expand operations.
This will give Blencowe access to a simpler, faster, lower-toxicity purification process compared to conventional Chinese processing methods.
Alkeemia’s technology is also cleaner, as is increasingly required by European and US offtakers and funding bodies, particularly for battery and energy transition markets.
Joining forces with Alkeemia also provides Blencowe with a non-capital intensive near term alternative to its longer-term plans to develop in-country SPG processing in Uganda.
It also strengthens Blencowe's ability to engage with European offtakers and funding bodies, where local processing and traceable supply chains are increasingly prioritised.
In addition, Blencowe believes that establishing a European-based purification and toll treatment pathway also opens up potential access to European funding initiatives, where local processing, traceable supply chains and reduced reliance on Chinese-controlled processing routes are increasingly important criteria.
Blencowe is already an exclusive supplier of natural flake graphite into the EU SAFELOOP initiative, which is part of the European Union's €100 billion Project Horizon energy transition programme.
"This LOI with Alkeemia, represents a significant strategic step for Blencowe, providing a credible European purification pathway for Orom-Cross graphite using cleaner, innovative processing technology,” said Cameron Pearce, Blencowe's executive chairman.
“As Orom-Cross advances towards production and Alkeemia continues to develop its facilities in Italy, this relationship is expected to support increasing scale and to act as a platform to bring further European offtake opportunities into play.
With China announcing export controls on lithium battery products, equipment and processing technologies, alternatives delivered through Alkeemia have the potential to play a substantial role in supporting the transition of international markets towards purified graphite products produced outside of China."
View from Vox
Shares in Blencowe ticked up by just over 2% on the news to 8.6p. The company’s shares have been on something of a tear over the past year, and are now trading at just a fraction off their five year high. Small wonder, as Blencowe has been making sterling progress in the development of Orom-Cross, and has shown the project to be really significant on a global scale, and with very attractive economics.