The company has signed a €15 million agreement with Australian investment funds EMR and Tectonic, in addition to a further €25 million signed with Macquarie Bank. This credit line is in addition to the senior secured financing package of 320 million euros reached at the end of 2022. In view of these figures, Ignacio Salazar, CEO of Geoalcali, said that leading international banks and funds in the mining sector “are showing interest” in the project.
The Mina Muga project is moving ahead steadily. Recently, its developer, Geoalcali, announced that it has signed a 15 million euro agreement with the Australian investment funds EMR and Tectonic, to which a further 25 million euros has been signed with Macquarie Bank. This is a credit line that completes the senior secured financing package of 320 million euros reached at the end of 2022. In view of these figures, Ignacio Salazar, CEO of Geoalcali, assured that the leading international banks and funds in the mining sector “are showing interest” in his project.
In this regard, EMR is the main investor in the project since its inception in 2014 while Tectonic joined this initiative in 2019 recalled from a company that values the commitment made by these firms. “It reflects the support they are giving to the work being done to promote a potash mine in the heart of Europe, ready to supply the fertiliser market under the highest social and environmental standards,” added Salazar. As a result, Mina Muga is set to become one of the main industrial and employment drivers for both Navarre and Aragon, with an estimated 800 new jobs.
On 29 March, the company received the construction licence from Sangüesa, which, together with that granted by the town of Undués de Lerda in Huesca, allows them to formalise their construction plan.
Source:Diario de Navarra