off-the-wire

Australia’s Quantum Graphite receives $300m loan offer from US EXIM Bank

Kitco Media
By Reuters
Published:
Updated:
Reuters
Australia’s Quantum Graphite receives $300m loan offer from US EXIM Bank teaser image

Australian miner Quantum Graphite said on Thursday it has received a term sheet for a loan of up to $300 million from the US Export-Import (EXIM) Bank to fund its project, Utile, near the North Atlantic Ocean.

The EXIM Bank has not made any binding offer but if the loan proceeds, it will be used to conclude the end supply chain for the production and delivery of refined flake graphite to the East Coast of the US, the company added in a statement.

Project Utile will act as a platform for US domestic production of purified graphite with an estimated delivery of up to 100,000 metric tons of high-grade graphite per annum.

The financing will cover mining and production at Uley mine in Australia, among others, the company said.

(By Sneha Kumar; Editing by Sohini Goswami and Rashmi Aich)

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