The company has signed an agreement for a $45-million project finance facility led by French bank Société Générale, which added to a pre-payment agreement of $27 million signed with Mitsui & Co
. The project capital expenditures were estimated to total $74 million.
“[The Covid-19] pandemic postponed the signing of this project finance agreement,” Cabral-Gardner said. “We expected work [on the commercial plant] to begin in April, but now construction is set to start in August.”
The pandemic also seems to have delayed the speed of the global fleet shift to electric vehicles, because this will demand battery-grade...