Almonty’s Sangdong project receives preliminary Export Credit Cover

Almonty Industries, in which Deutsche Rohstoff holds a 12.8% stake, has cleared the decisive hurdles for the project financing of the Sangdong mine in South Korea. After the financing bank, the KfW-IPEX Bank from Frankfurt, had already given a binding commitment at the beginning of February, the Austrian bank “Österreichische Kontrollbank” (OeKB) has now issued a preliminary Export Credit Cover (ECA).
Almonty-southKorea

Mannheim. Almonty Industries, in which Deutsche Rohstoff holds a 12.8% stake, has cleared the decisive hurdles for the project financing of the Sangdong mine in South Korea. After the financing bank, the KfW-IPEX Bank from Frankfurt, had already given a binding commitment at the beginning of February, the Austrian bank “Österreichische Kontrollbank” (OeKB) has now issued a preliminary Export Credit Cover (ECA), which secures 80% of the loan granted by KfW to Almonty. The financing volume amounts to USD 76 million. Loan documents are now being drafted and prepared to move to financial closing.

Mannheim, 24 February 2020

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold, copper, rare earths, tungsten and tin complete the portfolio. Further information can be found at www.rohstoff.de

Contact
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
info@rohstoff.de

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