https://www.miningweekly.com

NSL welcomes cornerstone investor

27th September 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior iron-ore producer NSL Consolidated has welcomed a A$5-million strategic equity investment by Australian financial institution First Samuel.

NSL told shareholders on Wednesday that the investment would provide the company with additional working capital as the Phase 2 wet beneficiation plant progress at its Indian iron-ore projects progressed to nameplate capacity by the end of October.

The Phase 2 wet beneficiation process would allow NSL to produce a high-grade premium iron-ore product grading between 58% iron and 62% iron, with a production of about 200 000 t/y targeted.

The capital would also allow for the ramp-up of mining operations to support the growing wet plant feed requirements, and would provide funding for the immediate Phase 3 expansion project to 400 000 t/y.

“This significant investment by First Samuel underpins our longer-term production growth profile,” said NSL MD Cedric Goode.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION