Danakali to raise loan for Eritrean mining project

Potash Corp PA 230x150
By Mariam Meskin
05 Aug 2019

Australian potash company Danakali will raise a $200m credit facility from lenders in Africa. The syndicated facility will go towards funding the planned Colluli potash project in Eritrea.

The seven year amortising $200m senior credit facility will be provided by African Finance Corporation (AFC) and African Export Import Bank, who are the mandated lead arrangers (MLA) and underwriters.

Both MLAs, who will each lend $100m, have obtained formal credit approval to lend to Danakali's Colluli Mining Share ...

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