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- EcoGraf (ASX:EGR) secures import credit cover and arranges a senior debt facility of up to $160 million for its Epanko graphite project in Tanzania through engagement with KfW IPEX-Bank
- The UFK program, supported by the Federal Republic of Germany, incentivises strategic projects for a sustainable, long-term supply of critical minerals to the German industry
- Integral to the UFK program is the promotion of the highest environmental and social standards
- Approval of the life-of-mine Epanko Special Mining Licence is underway to support long-term expansion
- EGR last traded at 17 cents
EcoGraf (ASX:EGR) has secured import credit cover and arranged a senior debt facility of up to US$105 million (A$160 million) for its Epanko graphite project in Tanzania through engagement with KfW IPEX-Bank.
The confirmation of UFK eligibility follows productive meetings with KfW IPEX-Bank and Epanko off-takers in Germany.
This development aligns with recent global shifts, including China’s upcoming graphite export controls and the official visit of German President Frank-Walter Steinmeier to Tanzania.
The UFK program, supported by the Federal Republic of Germany, incentivises strategic projects for a sustainable, long-term supply of critical minerals to the German industry. It offers loan funding with longer terms than those from commercial lenders, enhancing financial flexibility for new developments.
Integral to the UFK program is the promotion of the highest environmental and social standards. Epanko’s development planning adheres to Equator Principles, with an Independent Engineers’ Review confirming compliance with international standards.
KfW IPEX-Bank, a supporter since 2017, is an experienced debt funding partner. The recent signing of the Epanko Framework Agreement, witnessed by Tanzanian President Samia Suluhu Hassan, highlights the government’s support. Approval of the life-of-mine Epanko Special Mining Licence is underway to support long-term expansion.
EGR last traded at 17 cents.
