Mining News

Kropz makes first drawdown from ARC equity facility

Aim-listed Kropz on June 2 received approval from the South African Reserve Bank for a R177-million equity facility with African Rainbow Capital (ARC) Fund. In May, the emerging African phosphate explorer and developer announced that it had entered into a new conditional convertible equity facility of up to R177-million with ARC, the company’s biggest shareholder, to deliver the company’s Elandsfontein phosphate project to first revenue.

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