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- Queensland Pacific Metals (QPM) receives further conditional debt funding support for its TECH battery metals project in Queensland, this time from the Korea Trade Insurance Corporation (K-SURE)
- Queensland Pacific says K-SURE, South Korea’s export credit agency, has provided a formal expression of interest letter to Queensland Pacific in relation to the debt funding
- The company says the support from K-SURE represented another piece of a potential lending syndicate for the TECH project
- Queensland Pacific has already received a commitment letter for conditional debt funding of $250 million from Export Finance Australia, Australia’s export credit agency
- QPM shares last traded at 22.5 cents on April 4
Queensland Pacific Metals (QPM) has received further conditional debt funding support for its TECH battery metals project in Queensland, this time from the Korea Trade Insurance Corporation (K-SURE).
The Townsville Energy Chemicals Hub (TECH) project is being developed as a sustainable producer of critical metals, such as nickel sulphate, cobalt sulphate, high-purity alumina (HPA) and other by-products for the lithium-ion battery and electric vehicle sectors.
Queensland Pacific said K-SURE, South Korea’s export credit agency, had provided a formal expression of interest letter to Queensland Pacific in relation to the debt funding.
The company said the support from K-SURE represented another piece of a potential lending syndicate for the TECH project.
Queensland Pacific has already received a commitment letter for conditional debt funding of $250 million from Export Finance Australia, Australia’s export credit agency.
“The increasing recognition from governments around the world, in particular the Korean and Australian governments, regarding the importance of critical minerals supply chains will be an important factor in QPM achieving its goal of becoming a sustainable producer of battery metals,” Queensland Pacific Managing Director Stephen Grocott said.
“The support we have received from government backed lenders to date has been tremendous.”
QPM shares last traded at 22.5 cents on April 4.
