• Giyani Metals receives EXIM Bank interest for $225 million in project financing
• K.Hill to become Botswana’s first manganese mine, with $284 million capex
• Site expected to produce 80,000 tons of battery-grade manganese sulphate annually

Giyani Metals is advancing plans to establish Botswana’s first manganese mine through its K.Hill project. A preliminary economic review released in 2023 estimated that the site will require an initial investment of $284 million. On Monday, June 16, the company announced it had received a letter of interest from the US Export-Import Bank (EXIM) for a $225 million loan to support project development.

The proposed loan would offer long-term financing repayable over up to 15 years. While few additional details have been disclosed, EXIM’s funding is contingent upon the successful conclusion of supply agreements with American companies. This condition reflects the broader US strategy to diversify its critical minerals supply chains.

The K.Hill project is expected to produce approximately 80,000 tons of high-purity monohydrate manganese sulphate per year, over a projected mine life of 57 years. This material is used in the production of electric battery cathodes.

Several steps remain before the loan can be finalized. Both parties are expected to conduct a project audit, finalize the agreement terms, and complete the required documentation. A definitive feasibility study, due by the first quarter of 2026, will support the financing process.