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Meridian ups loan facility to fund Jaburi manganese plant expansion in Brazil

Meridian Mining SE increased the size of its loan facility from Sentient Global Resources Funds IV LP by US$1 million to US$8.5 million.

The loan carries an annual interest rate of 10% and matures April 30, 2018. All other terms remain the same.

The proceeds from the loan will be used for upgrades at the company's Jaburi manganese plant in Brazil.

Meridian President and CEO Anthony Julien said, "Our customers are demanding more product and the Jaburi plant upgrade will allow the company to expand production capacity up to 100,000 tonnes per annum."