Tag Archives: Afreximbank

Eritrea Joins Africa Finance Corporation

Eritrea becomes the 24th member state to join the Africa Finance Corporation (AFC)
Eritrea becomes the 24th member state to join the Africa Finance Corporation (AFC) as shareholder.

BY AFRICA FINANCE CORPORATION

Africa Finance Corporation (“AFC” or “the Corporation”) is pleased to announce the accession of the State of Eritrea (“Eritrea”) as its 24th member state. This decision was ratified by His Excellency, Isaias Afwerki, President of Eritrea, on 6 November 2019. Continue reading Eritrea Joins Africa Finance Corporation

Danakali Secures US$50 million Investment from Africa Finance Corporation

The placement takes AFC’s total participation to US$150 million – US$50M in Danakali equity plus US$100M of credit approved Colluli Mining Share Company (CMSC) senior debt – which demonstrates their major and long-term commitment to the project, Danakali and Eritrea.

Danakali’s further US$50 million strategic equity investment from AFC will speed up activities at its world-class Colluli sulphate of potash project (SOP) in Eritrea.

BY SARAH BUKLEY | AUSTRALIAN MINING

Perth-based potash company Danakali has announced a US$50 million ($73 million) agreement with Africa Finance Corporation (AFC) that will fund the Colluli potash project in Eritrea.

In 2018, Colluli Mining Share Company (CMSC), Danakali and Eritrean National Mining Company’s (ENAMCO) joint venture, secured a US$200 million senior debt facility from AFC. Continue reading Danakali Secures US$50 million Investment from Africa Finance Corporation

Danakali Receives Additional $42m Guarantee for Colluli Power Plant

Afreximbank has granted a US$42 million credit guarantee for the preferred contractor Inglett & Stubbs International (ISI) towards the construction of Colluli power plant in Eritrea.

BY TESFANEWS*

Danakali Ltd (ASX:DNK) has announced that Afreximbank has formally granted credit approval to provide a US$42 million guarantee for the construction of power plant for the Colluli Potash Project in Eritrea. Continue reading Danakali Receives Additional $42m Guarantee for Colluli Power Plant

Danakali Secured US$200 million for Colluli Potash Project in Eritrea

Credit approval is a critical project financing and execution milestone, a strong endorsement for Eritrea and the calibre of the Project.

Danakali obtained formal credit approval from AFC and Afreximbank to provide the Colluli Mining Share Company in Eritrea with $200-million in senior debt finance.

BY SIMONE LIEDTKE | MINING WEEKLY

Danakali has obtained formal credit approval from the Africa Finance Corporation (AFC) and African Export Import Bank (Afreximbank) to provide the Colluli Mining Share Company (CMSC) with $200-million in senior debt finance. Continue reading Danakali Secured US$200 million for Colluli Potash Project in Eritrea

Danakali to Start Developing Vast Potash Project in Eritrea

The Colluli potash deposit in Eritrea could meet the entire world’s demand for 30 years.

Colluli potash project is one the the largest and shallowest known deposit of the fertilizer in the world.

BY CECILIA JAMASMIE | MINING[DOT]COM

Australia’s Danakali (ASX, LON:DNK) is closer than ever to beginning the development of its world-class Colluli potash project in Eritrea, which is expected to become one of the world’s most significant and lowest cost sources of sulphate of potash (SOP), a premium grade fertilizer. Continue reading Danakali to Start Developing Vast Potash Project in Eritrea

Danakali to Secure $200m Financing for Potash Project in Eritrea

Colluli is close to the Port of Massawa, which has been utilized by Nevsun’s (now Zijin’s) Bisha copper-zinc mine for almost 10 years.

BY CECILIA JAMASMIE | MINING.COM

Australia’s Danakali’s (ASX, LON:DNK) said Monday it was about to close debt financing agreements worth $200 million with two African financial institutions, which will allow it fund construction and growth of its flagship Colluli potash project in Eritrea. Continue reading Danakali to Secure $200m Financing for Potash Project in Eritrea