$5b Mount Peake mine for NT heads closer to production

https://www.ntnews.com.au/business/...n/news-story/f44612419c8ed80c27d0235126384b9b



TNG's Mount Peake vanadium-titanium-iron project in the Northern Territory, pictured in 2015
$5b Mount Peake mine for NT heads closer to production
GARY SHIPWAY, NT News
December 26, 2018 3:13pm
Subscriber only

THE proposed $5 billion Mount Peake vanadium-titanium-iron project 230km from Alice Springs goes into 2019 with many significant hurdles cleared.

Now it is clearing its biggest with Germany’s KfW IPEX-Bank to lead $800m debt raising to underpin the project’s development.

Getting KfW IPEX-Bank to lead the debt raising is a major achievement by the projects proponent TNG. It has a proven international track record. It will structure, co-ordinate, lead, arrange and manage a syndicate to raise the funds need for the Mount Peake mine.

TNG managing director Paul Burton said KfW IPEX-Bank was only secured after extensive meetings in Europe and Singapore in the past year.

“We now look forward to working closely with KfW IPEX-Bank to progress the full financing package for the Mount Peake project expeditiously, with a view to achieving financial close as soon as possible and getting on with the job of constructing this major new Australian resource project,” Mr Burton said.

“KfW IPEX-Bank is one of the leading export and project financing banks worldwide, with a proven track record for complex project financing spanning many decades and in-depth expertise to access and optimise ECA cover and the respective funding.”

The NT Government expects more than 1700 construction jobs and 600 ongoing jobs could be created from the development of the Mount Peake vanadium-titanium-iron mine.

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The New HotCopper is a joke when it comes to creating a new thread ... the formatting often gets screwed ... I went back to the Old for this one