Resgen signs $113m loan agreement

[miningmx.com] – RESOURCE Generation, an Australian-listed firm that is building the Boikarabelo coal mine in South Africa’s Limpopo province, has signed a loan facility of $113m for a mobile equipment fleet with Komatsu Financial.

“The transaction clears the way for final infrastructure designs and refines training and maintenance processes. In addition it provides clarity in relation to negotiations for remaining debt,” said Paul Jury, CEO of Resource Generation.

The term of the loan is for five years from the first utilisation date. Resource Generation will be purchasing the equipment from Komatsu Southern Africa, it said.