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January 2007
A five-strong group of ECAs and multilaterals have agreed in principle to underwrite at least $1.7 billion of project debt backing the $2.5 billion Ambatovy nickel mine in Madagascar. JBIC, Kexim, EDC, EIB and the African Development Bank are currently in the deal.
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Australian copper producing startup CopperCo has signed an offtake agreement with Glencore for the output of its Lady Annie project in Queensland. The price under this agreement will be set using a premium over the London Metal Exchange price settlement. The mine has a total resource of 11.3 million...
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Lenders to Tiomin Resources' titanium mine in Kwale, Kenya are facing the prospect of renegotiating the terms of the $155 million financing as delays hit the project.
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The EIB and Barclays Capital have been named as arrangers for about $60 million of debt to back Albidon's Munali nickel project in Zambia.
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Mano River Resources has received positive results from the feasibility study for its proposed open pit New Liberty Gold Project in western Liberia. The study gives an internal rate of return of 72% at a gold price of $600 per ounce, assuming 70% debt financing over five years.
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Ridge Mining has signed a committed term sheet for R610 million ($87 million) in debt for its Blue ridge platinum project. It has agreed terms with Development Bank of Southern Africa, Standard Bank, Investec, and Industrial Development Corporation. The debt breaks down into a R400 million six-year ...