Deutsche signs trade deal with Philippine mining company

The bank provides $40 million in pre-export finance to Platinum Group Metals.
Deutsche Bank has signed a $40 million pre-export financing facility with Philippine mineral processing company, Platinum Group Metals, to help support the acquisition, rehabilitation and development works at the companyÆs two ferronickel smelter plants. This mandate was completed in November 2007.

Platinum's smelter plants, located in the northern Mindanao city of Iligan and town of Manticao, Misamis Oriental, are considered to be investment priority projects for the Philippine government.

These plants capture significantly more off-take value of Philippine mineral output by way of local mineral processing, prior to the export of processed minerals ferronickel to the worldÆs leading stainless steel producers in Australia, Japan and China.

Platinum's ferronickel operations will also provide a ready market...
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