Kore Potash Secures $2.2 Billion Funding for Kola Project

Kore Potash PLC ( (GB:KP2) ) has provided an announcement.

Kore Potash PLC has signed non-binding term sheets with OWI-RAMS GMBH to secure a US$2.2 billion funding package for the Kola Potash Project. This funding will be structured through a blend of senior secured project finance and royalty financing, aligning with Shariah principles. The agreement represents a significant milestone for Kore Potash, enhancing its potential to become a key player in the global potash market and advancing food security. The financial arrangement includes a senior secured project facility covering 70% of the funding and a royalty finance facility for the remaining 30%, with specific financial covenants and conditions to be finalized during due diligence.

More about Kore Potash PLC

Kore Potash PLC is a potash development company focused on the Kola Potash Project and Dougou Extension Potash Project in the Sintoukola Basin, Republic of Congo. The company is primarily engaged in the potash industry, aiming to contribute to global food security and economic growth in Africa.

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Technical Sentiment Signal: Buy

Current Market Cap: £164.3M

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