Deutsche Rohstoff AG: Almonty's Sangdong project receives preliminary Export Credit Cover
24.02.2020 | DGAP
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
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