Giyani Metals secures $5.7m drawdown from IDC and $10m investment from ARCH for manganese project in Botswana.
Giyani Metals Corp., a battery-grade manganese project developer in Botswana, has secured a US$5.7m (ZAR109m) first drawdown from IDC of South Africa as part of a US$16m (SA Rand equivalent) convertible loan facility. IDC may convert outstanding loan funds into shares/loans in Thabatala Holdings Proprietary Limited. Giyani also closed a US$10m investment from ARCH Sustainable Resources Fund LP, which will partly fund drilling programs and a demonstration plant.
April 24, 2024
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