The funding package consists of a $50 million debt facility and $15 million in equity.
The AFC is an institutional finance organisation that invests in African development projects, including natural resources, infrastructure, power, and telecoms.
Smithson believes that this funding will support the company’s diamond project, enabling them to achieve commercial production in the next two to three years, with an initial target production of 200,000 carats per year.
The funds will also be used to construct a larger processing plant to accommodate growing capacity. Despite short-term fluctuations in diamond prices, Smithson is optimistic about the long-term outlook due to the decreasing supply and increasing demand for luxury products, particularly from emerging economies like India and China.
The issuer is solely responsible for the content of this announcement.
The next-generation high performance, energy efficient Edge AI accelerator addresses the latest Generative AI solutions…
TEDA TIANJIN, China--(BUSINESS WIRE)--Asymchem Laboratories (Tianjin) Co., Ltd. (Stock Code 002821.SZ/6821.HK) announced today that it…
TORONTO--(BUSINESS WIRE)--Maropost, the commerce software suite built for fast-growing commerce brands, announces two significant appointments…
Blockbuster Franchise with Over 850 Million Registered Players Worldwide TOKYO--(BUSINESS WIRE)--NEXON Co., Ltd. (Nexon) (3659.TO),…
DUBLIN--(BUSINESS WIRE)--The "Indonesia Telecoms Industry Report 2024-2031" report has been added to ResearchAndMarkets.com's offering. Welcome…
DUBLIN--(BUSINESS WIRE)--The "Australia Construction Equipment Market - Strategic Assessment & Forecast 2024-2029" report has been…