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February 2012
Mitsubishi Corporation has closed the A$325 million ($347 million) acquisition of the Jack Hills iron ore mine and Oakajee port and rail project from Murchison Metals
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Krakatau Posco - a joint venture between Posco (70%) and Krakatau (30%) - has raised a $1.7 billion 14-year facility to back development of a 1.5 mtpa integrated steel mill project in Cilegon, Indonesia.
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Four new lenders have joined Standard Bank on the debt facility for Axmin’s Passendro gold project in the Central African Republic, bringing potential commitments to $185 million. Two further lenders are also expected to commit an additional $75 million in the next two weeks.
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The shareholders of the Escondida copper mine in norther Chile have approved a $4.5 billion expansion programme at the operation.
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Canada Lithium has received credit approved commitments from Scotiabank and Caterpillar Financial
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The A$380 million ($405 million) four-year term loan for Sandfire Resources' DeGrusssa Copper Gold Project in western Australia has syndicated
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Australian-listed Westgold Resources has mandated Credit Suisse to provide a A$80 million ($86 million) project finance loan for its Central Murchison gold mine.
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Formation Metals has mandated Union Bank as lead arranger of the letters of credit backing a bond issue for its Idaho cobalt project.
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First Quantum Minerals has signed a $1 billion revolver for its Kansanshi mine in Zambia
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Indonesian mining group Aneka Tambang (Antam) has signed a mandate letter with Bank Mandiri, Bank Rakyat, Standard Chartered and SMBC for a $650 million financing of its East Halmahera ferronickel project.
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January 2012
Intex has signed a memorandum of understanding with MMC8 – a former division of China’s largest nickel producer Jinchuan Group – which will result in the latter having the first right to acquire 90% of the Mindoro Nickel project in the Philippines for $296 million
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Royal Nickel Corporation has mandated Rothschild as financial adviser on the development of the Dumont nickel mine in Quebec
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The board of Ivanhoe Mines is set to vote on an additional bridge loan of $1.8 billion to fund development of the Oyu Tolgoi
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Emirates Steel Industries has mandated BNP Paribas as financial adviser on a $800 million third phase expansion
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Indonesian coal miner Harum Energy has raised a $270 million three-year revolving facility on a club basis through mandated lead arrangers ANZ Panin Bank, Bank of Tokyo-Mitsubishi UFJ, DBS, OCBC, and United Overseas Bank.
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Esperanza Resources has mandated Euroscandic as financial adviser on the development of its Cerro Jumil gold project
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Australian-listed Moly Mines has halted the development of the Spinifex Ridge molybdenum-copper project,
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Chukotka Mining and Geological Company (CMGC), a subsidiary of Kinross Gold, has funded on the financing for the acquisition of a 25% stake in the Kupol gold and silver mine
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MbAC’s financing for an integrated mine and production facility drew on elements of both agricultural and mining financing practices.
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WestLB has made a $25 million debt commitment to MBAC Fertilizer's Itafos single super phosphate project