BAKU, Azerbaijan, September 2. Solidcore
Resources plc has secured a seven-year $100 million credit facility
from Germany's KfW IPEX-Bank to finance the construction of the
Ertis POX project in Kazakhstan.


This was announced in a report published by Solidcore Resources
plc.


According to the information, the facility will finance
infrastructure, equipment and engineering costs for the project. It
has a three-year-and-six-month grace period, with repayments
scheduled to begin in 2030.


"Our agreement with KfW IPEX-Bank to finance Ertis POX
construction marks an important milestone for the project. This is
a meaningful addition to the previously announced syndicate
financing of $600 million, which further demonstrates the strong
confidence of our international financial partners in our strategy
and long-term vision," Solidcore Resources CFO Evgenia Onuschenko
said.


Ertis POX, located in the Pavlodar Special Economic Zone, is
Kazakhstan's first large-scale, high-tech full-cycle pressure
oxidation plant for refractory ore processing. The project's
capital expenditures are estimated at $978 million and will be
financed through a combination of Solidcore's operating cash flow
and bank financing.


The new facility will be capable of processing up to 300,000
tons of gold-bearing concentrate and producing up to 500,000 ounces
of gold in dore alloy annually. The project is expected to create
approximately 500 permanent jobs in the region, as well as around
1,000 jobs during the construction period.







According to KfW IPEX-Bank, the financing will support European
exports, enabling Belgian company Coek Engineering to supply a
50-meter pressure oxidation autoclave for the project.


"With this financing, we are supporting European exports,
helping to position European industry more strongly in global
competition," Member of the Management Board of KfW IPEX-Bank Dr.
Velibor Marjanovic said.


KfW IPEX-Bank is a German project and export finance bank and a
wholly owned subsidiary of the state-owned KfW Group. The bank
provides financing for infrastructure, energy, transport, and
industrial projects.


Solidcore Resources is a gold producer registered in the Astana
International Financial Centre and listed on the Astana
International Exchange. The company operates two producing gold
mines and the Ertis POX growth project in Kazakhstan.