Moly Mines secures $494m loan from China Development Bank

Moly Mines Ltd (MOL.TO: Quote) (MOL.AX: Quote) said it got loans totalling $494 million from China Development Bank Corp(CDB) for the construction of its Spinifex Ridge molybdenum and copper project in Western Australia.

The miner said the loans will include a $454 million syndicated loan. CDB will also provide the company with a $40 million working capital loan.

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