Latest news with #UKEF
Ya Biladi
3 days ago
- Business
- Ya Biladi
Morocco and UK sign series of agreements in water, energy, health, and education sectors
During the UK Foreign Secretary's visit to Morocco, which concluded with the UK endorsing Morocco's autonomy plan for the Sahara as the most credible solution to the conflict, a series of landmark agreements were signed with Foreign Minister Nasser Bourita to strengthen cooperation across critical sectors and drive mutual growth and innovation. One of the key agreements is a government-to-government partnership between the UK Department for Business and Trade and Morocco's Ministry of Budget, aimed at supporting critical infrastructure projects ahead of the 2030 World Cup, reads a joint press release on Sunday. In the water and ports sector, a Memorandum of Understanding (MoU) was signed between the UK Department for Business and Trade and Morocco's Ministry of Equipment and Water, focusing on enhancing collaboration in sustainable water management, smart logistics, and green port technologies. For sustainable infrastructure, an agreement with Morocco's Ministry of Interior will facilitate partnerships on water management, waste management, and urban mobility solutions. In the field of trade and procurement, an MoU was signed with Morocco's Ministry of Industry and Trade to promote procurement cooperation, building on record trade volumes under the UK-Morocco Association Agreement. In education and innovation, the two countries signed an MoU to advance cooperation in higher education, scientific research, and innovation. Healthcare was another key focus, with an MoU between the UK and Morocco's Ministry of Health to support Morocco's healthcare transformation programme. This collaboration also includes work with Rabat-based Medical equipment manufacturing company Vicenne to introduce UK digital health solutions into the Moroccan market and a partnership with the Mohammed VI Foundation of Health and Science to promote UK expertise in medical equipment, hospital design, and academic partnerships. In the energy and climate sector, several agreements were signed. These include an MoU between UK Export Finance (UKEF) and SGTM to explore partnership opportunities in Morocco and across Africa, an MoU between UKEF and TAQA Morocco to support the transition to a low-carbon power generation portfolio and enhance Morocco's competitiveness, and a climate collaboration MoU between the UK Met Office and Morocco's Meteorological Office, focusing on climate services and environmental cooperation. In aviation, the Moroccan Airports Authority has been invited to visit the UK to explore partnership opportunities, as Morocco undertakes a major airport transformation programme.
Ya Biladi
3 days ago
- Business
- Ya Biladi
Morocco, UK sign series of agreemets in water, energy, health, Education, and defence sectors
During the UK Foreign Secretary's visit to Morocco, which concluded with the UK endorsing Morocco's autonomy plan for the Sahara as the most credible solution to the conflict, a series of landmark agreements were signed with Foreign Minister Nasser Bourita to strengthen cooperation across critical sectors and drive mutual growth and innovation. One of the key agreements is a government-to-government partnership between the UK Department for Business and Trade and Morocco's Ministry of Budget, aimed at supporting critical infrastructure projects ahead of the 2030 World Cup, reads a joint press release on Sunday. In the water and ports sector, a Memorandum of Understanding (MoU) was signed between the UK Department for Business and Trade and Morocco's Ministry of Equipment and Water, focusing on enhancing collaboration in sustainable water management, smart logistics, and green port technologies. For sustainable infrastructure, an agreement with Morocco's Ministry of Interior will facilitate partnerships on water management, waste management, and urban mobility solutions. In the field of trade and procurement, an MoU was signed with Morocco's Ministry of Industry and Trade to promote procurement cooperation, building on record trade volumes under the UK-Morocco Association Agreement. In education and innovation, the two countries signed an MoU to advance cooperation in higher education, scientific research, and innovation. Healthcare was another key focus, with an MoU between the UK and Morocco's Ministry of Health to support Morocco's healthcare transformation programme. This collaboration also includes work with Rabat-based Medical equipment manufacturing company Vicenne to introduce UK digital health solutions into the Moroccan market and a partnership with the Mohammed VI Foundation of Health and Science to promote UK expertise in medical equipment, hospital design, and academic partnerships. In the energy and climate sector, several agreements were signed. These include an MoU between UK Export Finance (UKEF) and SGTM to explore partnership opportunities in Morocco and across Africa, an MoU between UKEF and TAQA Morocco to support the transition to a low-carbon power generation portfolio and enhance Morocco's competitiveness, and a climate collaboration MoU between the UK Met Office and Morocco's Meteorological Office, focusing on climate services and environmental cooperation. In aviation, the Moroccan Airports Authority has been invited to visit the UK to explore partnership opportunities, as Morocco undertakes a major airport transformation programme. Looking ahead, two additional agreements are set to be signed in the coming days: an MoU between the UK's defence and security trade association, ADS Group, and Morocco's Agency of Investment and Export Development to strengthen links between the UK and Moroccan defence industries; and an MoU between BAE Systems, the Moroccan National Defence Administration, and the Moroccan Agency of Investment and Export Development to advance investment and capability development in the defence sector.
Yahoo
27-05-2025
- Business
- Yahoo
CCC signs MoU with UKEF to help diversify Canada's exports
OTTAWA, Ontario, May 27, 2025 (GLOBE NEWSWIRE) -- CCC is pleased to announce it signed a Memorandum of Understanding (MoU) with UK Export Credit Finance (UKEF), the United Kingdom's export credit agency. The MoU is intended to support Canada's export diversification strategy by deepening the industrial partnerships between Canadian and UK companies in Aerospace and Defence, as well as Public Infrastructure, Clean Energy and Information Technology. CCC's MoU enables UKEF to provide financing to eligible borrowers under Canada's government-to-government (G2G) contracting model. CCC helps governments around the world acquire customized Canadian solutions through G2G contracts. Every G2G contract has the legal effect of being signed in the name of the Government of Canada and comes with an assurance of contract performance. This reduces risks for all parties. CCC is the only Government of Canada agency that offers commercial advocacy, collaborative project development, and international contracting expertise to help Canadian businesses secure contracts with foreign governments. In the past 5 years, CCC helped to export over $15 B of Canadian goods and services to countries around the world. In addition to working with UKEF, CCC will continue collaborating with Export Development Canada (EDC) – Canada's export credit agency, to bring buyer and project financing to G2G contracts. Quotes 'CCC is proud to work with UKEF to strengthen industry collaborations between Canada and the United Kingdom, and to better serve the needs of Canadian exporters and their government buyers.' – Bobby Kwon, President and CEO of CCC. 'This MoU underscores the enduring trading partnership between the UK and Canada to support our joint long-term and sustainable economic growth priorities. The signing follows hot on the heels of UK Export Finance establishing a presence in Canada to help explore new financial lending opportunities that will benefit both Canadian and UK exporters.' – Ozgur Kutay, Country Head, Canada at UK Export Finance Related G2G contracting solution UKEF EDC Contact For media enquiries, please contact communications@ About CCC CCC is Canada's government to government contracting agency. We help build successful commercial relationships between Canadian businesses and governments around the world through our government to government contracting approach. We are also the U.S. Department of Defense designated contracting authority for procurements from Canada. To learn more about how we have facilitated billions in trade between Canadian businesses and governments around the world, visit
Cision Canada
21-05-2025
- Business
- Cision Canada
Rock Tech receives EUR 150 million in Letters of Support for Guben Converter
UK (UKEF) and Finish (FINNVERA) export credit agencies have expressed their interest to support the Guben Lithium Converter project with up to EUR 150 million in credit guarantees. In addition to the proposed senior debt tranche from the European Investment Bank (EIB), Export Credit Agency (ECA) support represents a vital component of the debt financing structure for large-scale infrastructure projects like the Guben Converter. Amidst market turmoil and Lithium price uncertainty Rock Tech's Guben Converter - a strategic project under the EU's Critical Raw Materials Act - remains the largest committed stand-alone Lithium refinery project in Europe. TORONTO, May 21, 2025 /CNW/ - Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce it has received up to EUR 150m in government-backed support from export credit agencies via conditional, non-binding expressions of interest. Specifically, UK Export Finance (UKEF) and the Finnish export credit agency (Finnvera) have expressed their interest to support the Guben Converter. In addition, discussions with further export credit agencies from Europe, Australia and China are ongoing to support the procurement of key equipment items from these countries. ECA support will be additional to the proposed European Investment Banks's (EIB) senior debt tranche of EUR 150 million (as announced by the Company in a previous press release). "We welcome the strong backing from Export Credit Agencies in supporting the Guben Converter project. Their engagement reflects confidence in our vision, the business case and the strategic importance of this facility for Europe's green energy transition," says Chris Wright, Rock Tech's CFO. In detail, the debt financing will benefit from the project's European sourcing scheme, making the project eligible for credit guarantees from major European export credit agencies. Large packages for supplies and services are to be contracted with business & procurement partners based in United Kingdom and Finland, and other EU countries. Subject to the due diligence being completed concurrently in accordance with their policies and applicable OECD consensus guidelines by the lending consortium and the ECAs, UKEF and Finnvera have expressed their initial interest in supporting the project via guarantees towards the lenders. About the Guben Converter The Guben Lithium Converter is a pioneering facility in Guben, Brandenburg, Germany, by the German-Canadian company Rock Tech Lithium Inc. This plant is set to become Europe's first commercial lithium hydroxide refinery, aiming to produce 24,000 tonnes of battery-grade lithium hydroxide annually—enough to supply over 500,000 electric vehicles per year. Strategically located near major automotive and battery manufacturing hubs the Guben Converter is designed to strengthen Europe's battery supply chain by processing spodumene concentrate secured via leading trading partner C&D Logistics (Qingdao) Co., Ltd. The Converter will utilize advanced crystallization technologies, supplied by GEA Group AG, to ensure high-purity lithium production with minimal environmental impact. The leading international engineering firm Worley Ltd. has been selected as construction partner (EPCM) for the plant. Recognized as a strategic project under the EU's Critical Raw Materials Act, the Guben Converter underscores Europe's commitment to securing essential materials for the energy transition. The project is expected to create approximately 200 jobs and represents a significant step toward regionalizing and decarbonizing the lithium supply chain in Europe. On behalf of the Management Mirco Wojnarowicz CEO, Rock Tech Lithium Inc. ABOUT ROCK TECH Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate. To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium Hydroxide Converter in Guben, Brandenburg, Germany. The second Converter is planned to be built in Ontario, Canada. Rock Tech Lithium plans to source raw material from its own Georgia Lake spodumene project in the Thunder Bay Mining District of Ontario, Canada, and procure from other ESG-compliant mines. Ultimately, Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further. CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking information pertaining to: the intended use of proceeds from the Offering and allocation thereof; listing of the Unit Shares on the TSX-V, including obtaining the final acceptance of the TSX-V; the results of the due diligence and decision of the ECA and EIB; discussions with strategic and financial investors to explore potential opportunities for investments directly at the project level, including the Company's converter projects in Germany and Canada and the Georgia Lake Project; and Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties. Forward-looking information is based on certain assumptions, estimates, expectations and opinions of the Company and, in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Forward-looking information is derived utilizing numerous assumptions regarding, among other things: the satisfaction of the conditions to obtain final acceptance of the TSX-V approval for the listing of the Unit Shares on the TSX-V; the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; expected growth, performance and business operations; future commodity prices and exchange rates; prospects, growth opportunities and financing available to the Company; general business and economic conditions; the costs and results of exploration, development and operating activities; Rock Tech's ability to procure supplies and other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and studies. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect and should not be read as a guarantee of future performance or results. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes.
Associated Press
16-05-2025
- Business
- Associated Press
British Export Credit Agency Issues Expression of Interest to NioCorp for Potential Debt Guarantee of up to $200 Million for the Elk Creek Critical Minerals Project
Any Debt Guarantee Issued by UK Export Finance ('UKEF') Would be Coordinated with Prospective Debt Financing Now Under Consideration by the Export-Import Bank of the United States ('EXIM') and Any Prospective Export Credit Agency Loan Guarantee from the German Government CENTENNIAL, CO / ACCESS Newswire / May 16, 2025 / NioCorp Developments Ltd. ('NioCorp' or the 'Company') (NASDAQ:NB) is pleased to announce that it has received a preliminary, non-binding Expression of Interest (the 'EOI') from UKEF, for a potential debt guarantee of up to $200 million to help finance construction of NioCorp's proposed Elk Creek Critical Minerals Project (the 'Elk CreekProject'). While only an EOI, any eventual loan guarantee from UKEF to NioCorp would be contingent upon NioCorp meeting certain conditions, including among other matters execution of an offtake agreement for one or more of NioCorp's planned products to UK-based companies that in turn can be shown to support UK exports. NioCorp is engaged in discussions with UK-based exporters on the potential sale of scandium-based products from the Elk Creek Project. Any debt guarantee issued by UKEF would be coordinated with prospective debt financing from EXIM, and any prospective loan guarantee from the German Government's Untied Loan Guarantee Loan Program, for which NioCorp has previously been deemed eligible to receive. UKEF's engagement with the Elk Creek Project is at an early stage. The LOI is not a legally binding commitment and is subject to a series of standard project finance terms and due diligence as per UKEF policies. # # # FOR MORE INFORMATION: Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected] @NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek #China #exportban #Pentagon ABOUT NIOCORP NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, 'forward-looking statements'). Forward-looking statements may include, but are not limited to, statements regarding the timing and process of the review and due diligence relating to any potential debt guarantee from UKEF; NioCorp's engagement with UK-companies relating to potential offtake agreements; the timing and process of review for any potential loan guarantee from the German Government's Untied Loan Guarantee Loan Program, NioCorp's expectation that the Elk Creek Project will complete the technical review under EXIM's TRC-2 process, receive approval and advance to a third-level review known as TRC-3; NioCorp's expectation to finalize engineering of its new and more efficient production process; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. Forward-looking statements are typically identified by words such as 'plan,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'outlook,' 'estimate,' 'forecast,' 'project,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'potential,' 'predict,' 'should,' 'would' and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; the future price of metals; the stability of the financial and capital markets; NioCorp's ability to service debt and meet the payment obligations thereunder; and current estimates and assumptions regarding the business combination with GX Acquisition Corp. II (the 'Business Combination') and the standby equity purchase agreement (the 'Yorkville Equity Facility Financing Agreement' and, together with the Business Combination, the 'Transactions') with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, and their benefits. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the U.S. Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms or at all; NioCorp's ability to receive a final commitment of financing from the EXIM on an acceptable timeline, on acceptable terms, or at all; NioCorp's ability to complete required due diligence, offtake and other requirements for the UKEF process; the possibility that NioCorp does not receive a final commitment of financing from UKEF on the anticipated timeline, on acceptable terms, or at all; NioCorp's ability to recognize the anticipated benefits of the Transactions, including NioCorp's ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet the listing standards of Nasdaq; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness or the Yorkville Equity Facility Financing Agreement may impair NioCorp's ability to obtain additional financing; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the 'Code'); the potential that the Transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining industry; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations. Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. SOURCE: NioCorp Developments Ltd. press release
