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Allana moves forward with financing for Ethiopian potash project

9:05 AM MDT | August 26, 2013 | Natasha Alperowicz

Allana Potash Corp (Toronto) announced today that it has signed formal mandate letters with prospective lenders for loans representing over 60–65% of the debt financing needed for the initial construction of its Danakhil potash project, in Ethiopia. In parallel with the mandates, potential lenders have begun formal loan assessment preparations and a due diligence review of the project. The prospective lenders include large multilateral and regional development finance institutions and export credit agencies from North America, Europe, and Africa. Allana...

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