Latest news with #EBRD
Yahoo
2 days ago
- Business
- Yahoo
Euro Manganese closes C$11.2m financing package for Chvaletice project
Euro Manganese has closed a financing package totalling C$11.2m ($8m), earmarked for the development of its Chvaletice Manganese Project. The financing package, approved by shareholders at an annual general and special meeting on 15 May 2025, comprises a private placement of common shares and CHESS Depositary Interests, raising C$9.8m. Additionally, a share purchase plan with certain eligible shareholders contributed C$1.4m. The company also announced an option grant to certain directors, officers, employees and consultants. Euro Manganese CEO Martina Blahova said: 'We are extremely pleased with the strong support demonstrated by both our existing shareholders and new investors, including the notable participation of Mr. Eric Sprott. 'As Euro Manganese's largest shareholder, EBRD's [European Bank of Reconstruction and Development] investment reinforces its support and commitment to the Chvaletice Project. This critical financing enables the company to pursue certain key milestones and advance project development. We thank shareholders for their ongoing support.' The net proceeds will be used for ongoing development activities at the Chvaletice Manganese Project. These activities include securing additional offtake term sheets and strategic investments, operating the demonstration plant as needed and advancing the project's permitting process. The Chvaletice Project represents a unique waste-to-value recycling and remediation opportunity by reprocessing old tailings from a decommissioned mine. It is reputed to be the only significant manganese resource in the EU, strategically positioning Euro Manganese to supply critical raw materials for battery supply chains, supporting the global transition to a circular, low-carbon economy. In March, the Czech Government officially designated the manganese deposit at Euro Manganese's Chvaletice project as a strategic deposit under the Czech Mining Act amendments. This recognition emphasises the importance of manganese as a strategic and critical raw material for the Czech Republic and is expected to streamline the permitting process, enhancing the predictability and efficiency of project development. "Euro Manganese closes C$11.2m financing package for Chvaletice project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
3 days ago
- Business
- Zawya
Egypt awards qualification certificates for 4 private renewable energy projects worth $388mln
Arab Finance: The Minister of Electricity and Renewable Energy Mahmoud Esmat handed over qualification certificates for four private renewable energy projects under the private-to-private (P2P) system, with a total capacity of 400 megawatts and investments amounting to $388 million, as per a statement. These projects will produce and sell electricity directly to industrial consumers without state guarantees or financial burdens. The projects include solar and hybrid solar-wind plants, aligning with Egypt's National Energy Strategy and the government's policy to encourage private sector participation in sustainable energy development. Esmat emphasized that the Electricity Law aims to liberalize the electricity market, foster competition, and enhance service quality while lowering costs. He said the new regulatory framework creates a favorable environment for private investment and supports Egypt's transition toward a green economy. He also highlighted the importance of providing a fair and transparent regulatory system, reinforcing the role of regulatory authorities in monitoring compliance and ensuring the quality and efficiency of electricity services. The Electricity Utility and Consumer Protection Regulatory Agency (EgyptEra) completed the review of qualification applications for the private-to-private (P2P) system, in cooperation with an international consultant and the European Bank for Reconstruction and Development (EBRD). This helped develop the participation framework and agreements. A total of seven applications were submitted for renewable energy plants, each with a proposed capacity of 100 megawatts. Four companies received qualification certificates. Neptune Energy will supply the Suez Steel factory through a solar plant. AMEA Power will provide electricity to AP Moller (Suez Canal Container Terminal) and BEFAR Group using a solar plant. TAQA Power will deliver electricity to Ezz Steel Company via a hybrid solar and wind facility. Egypt-based renewable energy investment firm Enara Group will supply power to the Helwan Fertilizer Factory and the El Alamein Silicon Products Complex through another hybrid plant. These projects enable industrial firms to meet climate commitments and support the export of green products by relying on renewable energy sources. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
EBRD, Banque Misr grant $80mln syndicated loan to Orange Egypt
Arab Finance: The European Bank for Reconstruction and Development (EBRD) and Banque Misr have provided a syndicated loan of nearly $80 million to Orange Egypt, according to a press release. The facility includes €39 million from the EBRD and $40 million (around €35.6 million) from Banque Misr's Dubai branch. Orange Egypt will utilize the loan to support its acquisition of a 5G mobile license from the National Telecommunications Regulatory Authority (NTRA). The rollout of 5G services across Orange Egypt's network will enhance data upload and download speeds, while reducing network latency. When it comes to 5G, the network is more energy efficient compared with previous generations of mobile technologies. It is also anticipated to enable companies to make more innovative offerings, improve customer experience, and stimulate digital growth. Moreover, Orange Egypt's network upgrade is expected to lower its CO2 emissions by 1.740 million tons annually. Jean-Marc Peterschmitt, EBRD's Managing Director for the Corporate Sector, commented: 'This project will strengthen Egypt's digital infrastructure, contributing to improved internet connectivity for local consumers, businesses and the broader economy.' On his part, Mohamed Sayed, Chief Financial Officer at Orange Egypt, said: 'Through technologies such as 5G, we aim to enhance services in education, healthcare and smart cities, bridging the digital divide and driving Egypt's digital economy forward.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
EBRD, Banque Misr provide $80mln syndicated loan to Orange Egypt for 5G expansion
Egypt - The European Bank for Reconstruction and Development (EBRD) and Banque Misr have extended a syndicated loan of approximately $80m to Orange Egypt to support the company's acquisition of a 5G mobile license and rollout of next-generation network infrastructure. The financing package includes €39m from the EBRD and $40m (around €35.6m) from Banque Misr's Dubai branch. The funds will enable Orange Egypt, a leading mobile network operator, to implement 5G services, enhancing network speed, reliability, and capacity. The introduction of 5G across Orange Egypt's network is expected to significantly improve data transmission speeds and reduce latency, delivering a more responsive and seamless experience for users. The upgrade will also benefit businesses by enabling more innovative digital services, strengthening customer engagement, and supporting Egypt's broader digital economy. Notably, 5G technology is more energy-efficient than previous mobile generations. Orange Egypt's planned network modernization is projected to reduce carbon dioxide emissions by more than 1.74m tonnes annually, contributing to the country's environmental sustainability goals. 'This project will strengthen Egypt's digital infrastructure, contributing to improved internet connectivity for local consumers, businesses, and the broader economy,' said Jean-Marc Peterschmitt, EBRD Managing Director for the Corporate Sector. Mohamed Khairat, Head of Corporate Banking at Banque Misr, emphasized the bank's commitment to supporting national economic growth, noting the telecom sector's strategic importance and Orange Egypt's role in advancing sustainable development. Khaled Nabil Khorshed, Head of Wholesale Banking at Banque Misr UAE, added that the involvement of the bank's Dubai branch reflects its strategy to leverage its international network to facilitate cross-border financing and strengthen its regional footprint. Commenting on the loan, Orange Egypt CFO Mohamed Sayed said: 'Through technologies like 5G, we aim to enhance services in sectors such as education, healthcare, and smart cities—bridging the digital divide and accelerating Egypt's digital transformation.' Orange Egypt, a subsidiary of French telecom giant Orange, has operated in the country since 1998. While primarily a mobile network provider, it also offers fixed-line services and IPTV. The company plays a key role in expanding Egypt's digital infrastructure. Egypt is a founding member of the EBRD. Since launching operations in the country in 2012, the Bank has invested over €13.2bn across 202 projects, in addition to supporting more than 750 small and medium-sized enterprises through technical assistance.
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
EBRD, Banque Misr provide $80m syndicated loan to Orange Egypt for 5G expansion
The European Bank for Reconstruction and Development (EBRD) and Banque Misr have extended a syndicated loan of approximately $80m to Orange Egypt to support the company's acquisition of a 5G mobile license and rollout of next-generation network infrastructure. The financing package includes €39m from the EBRD and $40m (around €35.6m) from Banque Misr's Dubai branch. The funds will enable Orange Egypt, a leading mobile network operator, to implement 5G services, enhancing network speed, reliability, and capacity. The introduction of 5G across Orange Egypt's network is expected to significantly improve data transmission speeds and reduce latency, delivering a more responsive and seamless experience for users. The upgrade will also benefit businesses by enabling more innovative digital services, strengthening customer engagement, and supporting Egypt's broader digital economy. Notably, 5G technology is more energy-efficient than previous mobile generations. Orange Egypt's planned network modernization is projected to reduce carbon dioxide emissions by more than 1.74m tonnes annually, contributing to the country's environmental sustainability goals. 'This project will strengthen Egypt's digital infrastructure, contributing to improved internet connectivity for local consumers, businesses, and the broader economy,' said Jean-Marc Peterschmitt, EBRD Managing Director for the Corporate Sector. Mohamed Khairat, Head of Corporate Banking at Banque Misr, emphasized the bank's commitment to supporting national economic growth, noting the telecom sector's strategic importance and Orange Egypt's role in advancing sustainable development. Khaled Nabil Khorshed, Head of Wholesale Banking at Banque Misr UAE, added that the involvement of the bank's Dubai branch reflects its strategy to leverage its international network to facilitate cross-border financing and strengthen its regional footprint. Commenting on the loan, Orange Egypt CFO Mohamed Sayed said: 'Through technologies like 5G, we aim to enhance services in sectors such as education, healthcare, and smart cities—bridging the digital divide and accelerating Egypt's digital transformation.' Orange Egypt, a subsidiary of French telecom giant Orange, has operated in the country since 1998. While primarily a mobile network provider, it also offers fixed-line services and IPTV. The company plays a key role in expanding Egypt's digital infrastructure. Egypt is a founding member of the EBRD. Since launching operations in the country in 2012, the Bank has invested over €13.2bn across 202 projects, in addition to supporting more than 750 small and medium-sized enterprises through technical assistance.
