Vulcan Energy Resources Advances Financing of Germany Lithium Project; Shares Rise 4%

MT Newswires Live

Sep 27, 2024

Vulcan Energy Resources (ASX:VUL) advanced the financing process for the Zero Carbon Lithium project in Germany, according to a Friday filing with the Australian bourse.

The mining firm recently signed a deal to consolidate its ownership of the Phase One lithium and renewable energy assets, as well as the acquisition of geothermal well operator and renewable energy firm Geox in exchange for 15 million euros, the filing said.

Zero Carbon Lithum's updated environmental and social impact assessment report was published in accordance with the requirements of partner export credit agencies and financial services firms, the filing added.

Vulcan secured a 10 million euro credit facility with BNP Paribas while the equity and debt financing for Phase One is being finalized, as per the filing.

Company shares rose past 4% in recent Friday trade.

Price (AUD): $4.50, Change: $+0.18, Percent Change: +4.17%

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