[miningmx.com] – RESOURCE Generation, the Sydney- and Johannesburg-listed coal development company, said project funding negotiations were underway with banks in order to provide final funding offers.
The company is seeking finance totalling $400m in order to fund construction of site infrastructure and the rail link at its Boikarabelo thermal coal mine. The mine will have an initial output of six million tonnes/year.
Loans from Noble Group may form part of the debt finance provided by a consortium of banks which would also have export credit agency support, the company said in an announcement today.
