Danakali’s Colluli Mining negotiates $200 million debt financing

By Marisa Wong

Los Angeles, Aug. 5 – Danakali Ltd. announced that Colluli Mining Share Co. will receive $200 million of senior debt financing through Africa Finance Corp. and African Export Import Bank as mandated lead arrangers.

The senior secured loans, funded equally by the lead arrangers, will be part of the overall project funding package used for development and construction of the Colluli Potash Project in the Danakil Depression region of Eritrea, East Africa, according to a news release.

The facility will have a term of seven years, subject to scheduled amortization. Availability will be for a period of 24 months from the closing date.

Danakali is a mineral exploration company based in Subiaco, Australia.

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