US-based Ethos Asset Management has agreed to lend $50 million to Thai-Sing Potash Trading Pte Ltd. (TSPT) to develop a potash mine in Thailand, according to Bloomberg, citing a statement from Ethos.
The loan has a 15-year term, according to an Ethos spokesperson, who said TSPT will disburse $10 million every month for the next five months to mine project concessionaire and developer Asia Pacific Potash Co.
The mine is expected to start producing potash at the end of 2025 or early 2026, Ethos CEO Carlos Santos told Bloomberg in an interview.