Giyani Metals Corp, the developer of the K.Hill battery-grade manganese project in Botswana, has received a nonbinding Letter of Interest (LoI) from the Export-Import Bank of the United States (Exim) for up to $225 million in potential financing to support the construction of the project.
The LoI follows several months of engagement between TSX-V-listed Giyani and Exim and marks the first step in the formal application process under the U.S.
Supply Chain Resilience Initiative, which seeks to reduce American reliance on critical mineral supply chains dominated by China.
While the proposed financing is not yet guaranteed, it remains subject to due diligence, agreement on final terms, and the completion of definitive documentation.
A Definitive Feasibility Study (DFS), expected in the first quarter of 2026, will be a key component in this process.
“The receipt of the LoI from Exim marks an important milestone on Giyani’s journey to securing project financing for the construction of the K.Hill project,” said Giyani President and CEO Charles FitzRoy.
“This validates Giyani as a preferred strategic developer of battery-grade manganese products.”
FitzRoy also highlighted the advantages of export credit agency funding, noting it offers the potential for lower-cost loans and extended repayment terms compared to traditional debt financing.
Giyani is pioneering a proprietary hydrometallurgical process to produce battery-grade manganese, specifically high-purity manganese sulphate monohydrate (HPMSM) and high-purity manganese oxide.
These materials are essential precursors for lithium-ion battery cathodes, which are crucial for electric vehicles (EVs) and energy storage systems.
The K.Hill project is positioned as a vital contributor to the global energy transition and the diversification of critical mineral supply chains, particularly for U.S. manufacturers seeking alternatives to Chinese-dominated markets.
About the Author
