Moly Mines signs US$494 million debt facilities for the Spinifex Ridge Molybdenum/Copper Mine
Moly Mines Limited (TSX:MOL)(ASX:MOL) said today it has signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge), Australia.
The facilities consist of a US$454 million Syndicated Facility Agreement (SFA) and a US$40 million working capital facility with CDB. Hanlong Mining Investment Pty Ltd (Hanlong) will also provide a US$6 million junior subordinated loan on terms consistent with the SFA over the coming months to fulfill Hanlong’s US$500 million commitment to Moly Mines.
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