Kalagadi to Announce 6.5 Billion Rand Funding in April
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Kalagadi Manganese Ltd. will announce the 6.5 billion rand ($900 million) worth of debt arrangements for its mine and smelter construction in April, Sello Motau, the South African company’s chief financial officer, said in an interview in Cape Town today.
The mine will be completed next year and will produce 2.4 million metric tons of manganese sinter a year, the company said in a statement. The smelter, which will have the capacity to produce 320,000 metric tons of product a year, will be complete in 2013 and will use 29 percent of the mine’s output.