RE: U.S. International Development Finance Corporation Provides Project Development Funding of US$ 4.6 Million to the Songwe Hill Rare Earth Mining Project in Malawi29 Sep 2025 07:13
The Funds will need to be repaid to the DFC only if, within ten years of the signing of the Agreement, MKAR obtains financing sufficient to initiate construction, operations, or other material implementation of the Project. Further, for a period until five years after the termination of the Agreement, the DFC will have the right (but not the obligation) to directly provide and/or arrange for financing or investment for the Project on commercial terms substantially comparable to or better than the terms of other financing options available to finance the Project when considered in conjunction with the other benefits brought by DFC to the Project in connection with the Project Development.