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South Korean industrial conglomerate POSCO will outlay US$7.5 million for a 15% stake in Tanzania graphite play Black Rock Mining.
POSCO's fingerprints are now all over the Mahenge project in Tanzania
POSCO will pay A8.2c per share in its Black Rock investment.
The investment was expected after the two companies signed a strategic alliance back in June.
Major battery maker signs up for Tanzanian graphite development
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