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annemarie.roodbol_55989 Dec 09

Mining equipment and services worth millions secured by Ivanhoe Mines.

Mining equipment and services worth millions secured by Ivanhoe Mines. image
Mining equipment and services worth millions secured by Ivanhoe Mines.
Kamoa Holding Limited has secured an equipment financing facility of up to US$211 million, together with a US$9 million down-payment facility.
Kamoa Holding Limited has secured an equipment financing facility of up to US$211 million, together with a US$9 million down-payment facility.
 
In addition, Gold Mountains (H.K.) International Mining Company has provided Kamoa Holding Limited with a limited recourse line of credit of US$200 million secured by the project’s pre-production ore stockpiles to fund the Phase 2 concentrator expansion.
 
US$200 million is sufficient to cover the cost of the second, 3.8 Mtpa concentrator module at the Kakula Mine – doubling the mine’s processing capacity from 3.8 Mtpa to 7.6 Mtpa.
 
The combined funds from the credit facilities will be used to fast track the overall development of Kakula’s Phase 2 module, including the mill and associated infrastructure, as well as to accelerate mining activities at the Kakula and Kansoko deposits to keep both concentrator plants operating at full capacity.
 
The additional funding is expected to accelerate the completion of the Phase 2 mill expansion from Q1, 2023 to Q3, 2022.
 
 

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