Mineral Commodities (ASX:MRC) said it received a non-refundable partial payment of $500,000 in relation to the sale of the shares in Skaland Graphite to Norge Mineraler, according to a Tuesday Australian bourse filing.

A working capital payment was made directly to Skaland Graphite of 5 million Norwegian Kroner to support the business and operations. Norge Mineraler has not made the final payment to complete the deal, and it is expected to be made by the end of June.

As the completion of the deal did not occur by Monday, the rate of interest on outstanding amounts owing to Mineral Commodities unit MRC Graphite Norway pursuant to the share purchase agreement has increased from 12.5% per annum to 20% per annum, calculated from March 21 to the date of completion of the deal.