DFC may finance Lepidico's Karibib Phase 1 project
Australia-based Lepidico has entered into a formal mandate with the US International Development Finance Corporation (DFC) to undertake an in-depth analysis and evaluation of the Karibib Phase 1 project, in Namibia, to determine whether the project qualifies for financing by the dfi.
The DFC will undertake detailed due diligence to ensure the project meets its criteria, including the project's creditworthiness, its developmental benefits to Namibia, and its effects on the environment. The Phase 1 Project encompasses the re-development of the open pit mines at Rubicon and Helikon 1, the development of a new mineral concentrator and working capital through to commercial operation.
Lepidico has engaged Lions Head Global Partners, a boutique investment bank, to assist in securing financing for the Phase 1 Project.
Lepidico Chemicals Namibia (Pty) Ltd, an 80% owned subsidiary, will develop and operate the Karibib Phase 1 Project; while the newly formed Lepidico Chemical Manufacturing, a 100% owned Abu Dhabi subsidiary, will develop and operate the Phase 1 Chemical Plant.
