trending Market Intelligence /marketintelligence/en/news-insights/trending/fvBoP8bkHNmAdjLfVXR2yQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Kenmare secures US$100M investment from chemicals trader

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Kenmare secures US$100M investment from chemicals trader

KenmareResources Plc said April 28 that it has entered into a conditionalsubscription and relationship agreement with chemicals trader King AllyHoldings Ltd., in which the latter will invest US$100 million in the company.

The US$100 million investment forms part of the US$275million capital restructuring plan that would also see a proposed by SGRF, a sovereign wealth fund of the Sultanate of Oman, and US$75 millionthat will be raised from new and existing shareholders.

As a condition, King Ally may hold not more than 29.9% ofKenmare's enlarged issued share capital following the completion of a capitalrestructuring.

A significantportion of the funds raised in the restructuring would be used to reduce debtand the balance earmarked for working capital purposes.