Botswana : Giyani secures $16 million in financing for manganese project  

Giyani Metals (TSXV: EMM) has secured $16 million in financing from the Industrial Development Corporation of South Africa (IDC) to fund the development of its K.Hill battery-grade manganese project in Botswana.

The IDC funding is the cornerstone of a $26 million financing package that will be used over the next 15 months to advance K.Hill towards a Final Investment Decision (FID), including an optimized feasibility study for the project and the operation of the company’s demonstration plant for producing battery-grade manganese.

IDC is a leading South African development finance institution with over 80 years’ experience in investing in industrial companies and the mining sector. It typically invests over a billion dollars each year in mining and infrastructure projects.