Giyani Metals CEO Danny Keating joined Steve Darling from Proactive to reveal an exciting development for the company with the acquisition of a $26 million financing package. This funding includes a substantial $16 million injection from South Africa's Industrial Development Corporation (IDC), which will serve as a catalyst for Giyani Metals' strategic plans in 2024.
Keating underscored the growing significance of high-purity manganese in the electric vehicle (EV) battery sector. The company has made substantial progress in expanding its resource base and establishing robust project economics.
With its resources tripling, a net present value (NPV) exceeding $1 billion, and an internal rate of return (IRR) of 29%, Giyani Metals Corp is well-positioned to play a pivotal role in the battery supply chain.
Keating also highlighted the importance of Giyani's demonstration plant in Johannesburg, which exemplifies their commitment to delivering a high-specification manganese product.
The new financing provides the company with the means to address technical challenges, secure offtake agreements, and advance its projects. As Giyani Metals Corp enters 2024, the company anticipates a dynamic year marked by significant progress. The financing package and partnership with the Industrial Development Corporation further validate the company's path towards project financing and its credibility as a key player in the high-purity manganese market.