DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous/Miscellaneous
Deutsche Rohstoff AG: Almonty signs contract for project financing
2020-12-07 / 16:22
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff AG: Almonty signs contract for project financing
*Mannheim*. Almonty Industries announced that the Project Finance Agreement
with KfW-IPEX Bank for the construction of the Korean Sangdong Mine was
definitively signed today. The project financing has a volume of USD 75.1
million.
The buyer of the tungsten concentrates, which is expected to be produced in
Sangdong from 2022 onwards, will be the Austrian Plansee Group. The supply
agreement has a term of 15 years and guarantees Almonty an attractive
minimum price with a revenue of at least CAD 750 million. As part of the
project financing, Plansee is also issuing guarantees to banks for almost
USD 30 million to cover possible cost overruns and the equity financing of
the project. The company also acquires shares from Lewis Black, the
company's CEO, making it the largest shareholder. Deutsche Rohstoff AG
remains the third largest shareholder with a current stake of 12.8%.
Plansee's guarantees reduces the equity share that Almonty must raise as
part of the project financing to around USD 14.1 million.
Mannheim, 7 December 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 and
tungsten complete the portfolio. Further information can be found at
www.rohstoff.de [1]
*Contact*
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
info@rohstoff.de
2020-12-07 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt
(Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate
Exchange
EQS News ID: 1153270
End of News DGAP News Service
1153270 2020-12-07
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8ff34031b60f4238d88ae9f1a9a79b3a&application_id=1153270&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 07, 2020 10:22 ET (15:22 GMT)