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Deutsche Rohstoff AG
Capital/Financing Update • Feb 24, 2020
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Capital/Financing Update
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Corporate | 24 February 2020 15:32
Deutsche Rohstoff AG: Almonty’s Sangdong project receives preliminary Export Credit Cover
DGAP-News: Deutsche Rohstoff AG / Key word(s): Financing
24.02.2020 / 15:32
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff AG: Almonty’s Sangdong project receives preliminary Export Credit Cover
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
24.02.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: | [email protected] |
| 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: | 982111 |
| End of News | DGAP News Service |