Kalagadi Manganese Project Secures €150m Loan

22 May 2011 (Last Updated May 22nd, 2011 18:30)

The African Development Bank (AfDB) has approved a €150m loan to finance the Kalagadi manganese mining project in South Africa. The work will include mining and processing operations in the Northern Cape Province, and smelting operations in the Eastern Cape province. Sinter is

The African Development Bank (AfDB) has approved a €150m loan to finance the Kalagadi manganese mining project in South Africa.

The work will include mining and processing operations in the Northern Cape Province, and smelting operations in the Eastern Cape province.

Sinter is expected to produce a total of 2.4Mtpa, of which 1.7Mt will be exported while 0.7Mt will go to the smelter plant in Eastern Cape.

The project has a total ore resource estimate of 100Mt, 44Mt of which has been converted into reserves.

The investment from AfDB is expected to contribute positively to job creation, enhancement of the living conditions of people in the surrounding communities, income generation, poverty alleviation and skills transfer.