[miningmx.com] – RESOURCE Generation said a proposed financing structure, currently under negotiation with a club of potential financiers, would remove the need to issue equity.
Negotiations date from last year, however, which the firm said was owing to “… the variable nature of the envisaged loan structure and maintaining deliverable outcomes within prevailing debt and coal markets”.
Resource Generation is seeking $400m to complete construction of its Boikarabelo coal project in South Africa’s Limpopo province. The plan was for the mine to produce 2.5 million tonnes of coal a year in its first phase.
