The U.S. Export-Import Bank (EXIM) has expressed interest in providing a $225 million loan to support the development of the K.Hill Battery-Grade Manganese Project in Botswana, according to project operator Giyani Metals.
The proposed loan falls under EXIM’s Supply Chain Resilience Initiative, aimed at strengthening U.S. access to critical minerals and reducing reliance on China to meet growing demand for manganese. For Giyani Metals, the 15-year facility would offer access to lower-cost financing.
“Giyani has held numerous discussions with EXIM, which have culminated in the issuance of LOI. While this is the first step in the process of securing possible funding, this important milestone validates Giyani as a preferred strategic developer of battery-grade manganese products,” stated Charles FitzRoy, President and CEO, Giyani Metals.
The $284 million project is expected to produce 80,000 tons of high-purity manganese ore and sulphate monohydrate annually for lithium-ion EV battery storage over a 57-year mine life. Giyani aims to secure full financing by 2026, begin construction in 2027 and commence production soon after.
Source: Energy Capital & Power
