EXIM Proposes $150M Loan for Botswana’s Critical Mineral Projects

Canadian mining firm NexMetals Mining Corp has received a letter of interest from the Export – Import Bank of the United States (EXIM) to fund the company’s critical mineral projects in Botswana.

EXIM is proposing to provide up to $150 million in loan for the re-development of NexMetals Mining’s nickel, copper, cobalt and platinum group metals projects in Selebi and Selkirk. In addition to the 15-year repayment loan, EXIM is interested in availing U.S. goods and services under special consideration for the projects.

“This represents a willingness from the United States to fund critical metals projects in one of Africa’s safest and most stable jurisdictions. It clearly denotes the U.S. government’s specific interest in Botswana, recognizing both its rich mineral endowment and the scale of our high-grade projects,” stated Morgan Lekstrom, CEO of NexMetals Mining.

EXIM is also interested in participating in Giyani Metals’ K. Hill Manganese Project in Botswana through a $225 million loan.