Giyani draws $1.8M from South Africa's IDC for EV battery materials push

What's the deal? Giyani MetalsDealroom has a profile for this one. Try Dealroom → has secured 29,900,000 rand (about $1.8 million) in additional financing from the Industrial Development Corporation of South Africa (IDCDealroom has a profile for this one. Try Dealroom →), extending an existing convertible loan facility. The Toronto-listed company drew down the funds in March to advance its battery-grade manganese work.

Where it goes: The money supported Giyani's demonstration plant in Johannesburg, which produces high-purity manganese sulphate monohydrate (HPMSM), a key raw material for lithium-ion battery cathodes. Material from the plant is being prepared for potential offtake partners.

The details: The addendum lifts the loan facility for subsidiary Giyani Metals South AfricaDealroom has a profile for this one. Try Dealroom → to 264,300,000 rand, with the combined IDC facility now totalling 329,900,000 rand. The IDC may nominate a director to Giyani's board if loan conversion leaves it holding more than 10% of the company's shares.

Why now? Operational data from the plant — covering reagent consumption, crystalliser performance, and purge management — will feed into the definitive feasibility study for the K.Hill Battery-Grade Manganese Project in Botswana. That study is now expected in the second quarter of 2026. Giyani said it does not intend to restart the demonstration plant.

The backdrop: Demand is rising for critical minerals such as copper, cobalt, lithium, and manganese used in clean energy technologies. South Africa is positioning itself deeper in that supply chain, allocating 1 billion rand over the medium term to industrial development incentives targeting automotive and new-energy vehicle production, according to the National Treasury.

The signal: As sub-Saharan Africa's largest automotive hub — home to ToyotaDealroom has a profile for this one. Try Dealroom →, Ford, VolkswagenDealroom has a profile for this one. Try Dealroom →, and Mercedes-Benz — South Africa is betting on a local EV and battery supply chain. Giyani's manganese work ties a mining project to that ambition, with state-backed capital carrying it toward a feasibility decision.

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Image credit: James St. John