cobalt copper DRC Africa Trafigura secures $600 million financing for cobalt and copper projects in DR Congo
Editors Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of todays must-read news and expert opinions. Sign up here!
According to the company’s statement, the financing facility will enable the completion of the new mechanized Mutoshi mine and processing plant in Kolwezi, and the expansion of the Etoile mine and processing plant in Lubumbashi, the Democratic Republic of Congo. “An important component of this agreement involves the enhancement of ESG compliance and responsible sourcing awareness and implementation, in line with IFC Performance Standards and OECD Guidelines,” the company noted in a statement. “Africa and the Democratic Republic of Congo in particular are endowed with some of the largest reserves of minerals required to catalyze the global energy transition towards a net-zero world.
Socrates Economou, Head of Nickel and Cobalt Trading for Trafigura, commented, “We’re delighted that TDB and an initial syndicate of banks have chosen to join the facility. We look forward to welcoming additional international and African banks to the syndicate in subsequent rounds of refinancing for these vital developments for the supply of critical minerals and the DRC economy.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Schools open after CUPE secures tentative deal, calls off strike - BNN BloombergSchools across Ontario are open today after a weekend of talks between the government and education workers secured a tentative contract and averted a strike.
Read more »
Businesses join environmentalists to push B.C.'s premier to protect biodiversityFederal government is willing to spend millions to reach its international commitments to products natural areas
Read more »
Trudeau pledges $16.5 million for Haiti aid, justice as Francophonie summit closesPrime Minister Justin Trudeau's government is announcing $16.5 million to help stabilize Haiti.
Read more »