PERTH (miningweekly.com) – Privately held Capricorn Copper has secured a A$45-million senior facility agreement with BNP Paribas to fund the refurbishment and restart of its namesake mine, in Queensland.
The senior facility agreement includes A$40-million for project development, commissioning and ramp-up, as well as a A$5-million revolving capital facility once the mine has become operational.
The Capricorn copper mine was acquired from ASX-listed Aditya Birla in 2015, and is considered one of Australia’s largest copper development projects.
Capricorn Copper in November approved a A$110-million capital programme to restart and refurbish the project, following the completion of a detailed feasibility study. The mine is expected to produce some 30 000 t/y of copper in a high-grade concentrate, over an initial mine life of ten years.