[miningmx.com] – THE Leviev Group will finance three-quarters of a $1.88bn mine phosphates project in Namibia with debt, said Bloomberg News which cited Kombayedu Kapwanga, MD of Leviev Group’s Namibia Phosphates unit.
Kapwanga told the newswire service that financing “wouldn’t be that difficult” with about 25% of the funds for the project – which plans to sweep the ocean floor for the minerals – coming from internal resources.
Leviev Group, the US holding company of the family of Israeli billionaire diamond merchant Lev Leviev, received permission from Namibia to build a $20m pilot processing plant before the completion of an environmental impact study by the Norwegian Institute of Marine Research and Sintef, said Bloomberg News.
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