Tanzania : Kibaran ready for KfW and Nedbank senior debt for Epanko graphite

Kibaran Resources Ltd, listed on ASX, has now the way paved for up to a US$40 million senior debt facility to develop its wholly own Epanko graphite project in Tanzania.

This followed as the independent Engineers for technical due diligence appointed by KfW IPEXBank have completed their review, as part of KfW IPEX-Bank’s senior debt financing due diligence on the project.

According to the Australian company, that own wholly the project, the independent evaluation report is the key aspect of KfW IPEX-Bank’s rigorous due diligence in terms of the approval process for up to a US$40 million senior debt facility for the development of Epanko.

Also, the independent Engineers report (IER) will be forwarded to Nedbank, the Africa’s largest investment bank that indicated interest in providing senior project debt financing of up to US$30 million, alongside KfW IPEX-Bank.

“We are gratified with the calibre of this banking syndicate and is in accord with our strategy of securing blue chip off-take and financing partners for the Epanko Project,” Kibaran Chairman, Mr Bob Pett commented.

Epanko graphite project contains about 10.9Mt @ 8.6% TGC proven and probable ore reserve in the south-east Tanzania.