Giyani Metals Receives $225M Loan Offer from US EXIM, Advances Manganese Operations

Giyani Metals Corp received a letter of interest from the Export–Import Bank of the United States for a potential loan of up to $225 million over 15 years. The company is pursuing offtake agreements, especially with US companies, and has shipped sample oxide products to potential offtakers. The definitive feasibility study remains on track for completion in Q1 2026, following adjustments informed by the company's demonstration plant operations in Johannesburg.

Giyani Metals Corp. (TSXV: EMM, GR:A2DUU8) has received a non-binding letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $225 million in financing to support the construction of its K.Hill Battery-Grade Manganese Project in Botswana. The LOI, dated June 6, 2025, marks an important milestone in the company's efforts to secure project financing.

The potential funding from EXIM falls under the Supply Chain Resilience Initiative (SCRI), which aims to reduce US dependence on critical mineral supply chains controlled by the People's Republic of China. The SCRI supports projects that supply critical materials to American manufacturers, such as those in the semiconductor, battery, and electric vehicle sectors.

To unlock the funding, Giyani must secure offtake contracts with US companies. The company has been actively pursuing such agreements and has shipped sample oxide products to potential offtakers. The definitive feasibility study (DFS), which is forecast to be completed in Q1 2026, is currently underway and will be informed by the company's demonstration plant operations in Johannesburg.

Charles FitzRoy, President and CEO of Giyani Metals, commented, "The receipt of the LOI from EXIM marks an important milestone on Giyani’s journey to securing project financing for the construction of the K.Hill Manganese Project. We look forward to furthering our relationship with EXIM and other strategic partners as Giyani continues to diligently work towards its goals and ultimately maximize value for our stakeholders through the development of this vital critical minerals project."

The LOI from EXIM is not a binding commitment to provide financing; rather, it marks an initial step in the formal application process. Any potential debt financing remains contingent upon the successful completion of due diligence, agreement on final terms, and execution of definitive documentation.

ECA funding is an important part of financing critical minerals projects, as it offers the potential to secure lower cost loans than traditional debt, with longer repayment periods. These types of structures can enable groups like Giyani to maximize value for shareholders by securing more attractive annual repayments for project financing.

References:
[1] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1007-tsx-venture/emm/181979-giyani-receives-letter-of-interest-from-exim-for-us-225-million.html
[2] https://www.mining.com/web/giyani-metals-receives-loan-interest-from-us-exim-for-botswana-manganese-project/