NexMetals secures potential Exim support for Botswana mines
Exploration and development company NexMetals Mining has received a letter of interest from the Export-Import Bank of the United States (Exim) for up to $150-million in potential financing to redevelop two critical metals assets in Botswana.
The non-binding letter contemplates a tenor of up to 15 years and could support the restart of NexMetals’ Selebi and Selkirk nickel/copper/cobalt/platinum group metals projects, the Vancouver-based company said in a statement.
The US export credit agency also indicated that related procurement of US goods and services may qualify for support under its China and Transformational Exports Programme, enabled by Section 402 of Exim’s 2019 reauthorisation.
“This represents a willingness from the United States to fund critical metals projects in one of Africa's safest and most stable jurisdictions,” said NexMetals CEO Morgan Lekstrom. “It clearly denotes the US government's specific interest in Botswana, recognising both its rich mineral endowment and the scale of our high-grade projects.”
NexMetals said the letter was not a commitment and that any financing would remain subject to further application, due diligence, and board approval by Exim.
The Selebi and Selkirk projects are former producers and NexMetals is targeting their restart.
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