AMG Advanced Metallurgical Group N.V. Secures Project Financing from DEG for Ancuabe Mine Project

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Overig advies 25/09/2015 07:07
Amsterdam, 25 September 2015 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG") is pleased to announce that it has secured $9.4 million of project financing from DEG - Deutsche Investitions- und Entwicklungsgesellschaft, a subsidiary of KfW, for the Ancuabe Mine project in the Cabo Delgado province of Mozambique.

The commitment for the countries of sub-Saharan Africa is one of the strategic focuses of DEG, just as accompanying German companies in future markets. The investment generates currency earnings for Mozambique and creates up to 100 jobs in a poor rural area of the country.

AMG will restart mining operations in the second quarter of 2016, with an initial projected annual production of 6,000 metric tons. Once operational, AMG's GK Ancuabe Graphite Mine S.A. operation will be the first and currently sole graphite producer in the Ancuabe area of Mozambique.

AMG's Mozambique assets include permitted mining concession 4C which encompasses the functional graphite producing plant at Ancuabe and exploration license 3659L at Nipacue, where a graphite deposit with a JORC compliant mineral resource estimate of 900,000 metric tons has been developed over the last 2 years.

AMG and Triton Minerals Limited (Triton) are cooperating to explore properties adjacent to AMG's Ancuabe Mine. For the avoidance of doubt, Triton's exploration activities are not connected to AMG's Graphite operations or resources at the Ancuabe Mine site.




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