JOHANNESBURG (miningweekly.com) – TSX-V-listed Alphamin has executed nonbinding term sheets for $80-million of project debt for its 10 000 t/y Bisie tin project, in the Democratic Republic of Congo (DRC).
Construction on the project, which will reach full production in 2019, started in the first quarter of this year and the company expects the mine’s development to cost some $120-million.
Alphamin is working diligently towards securing unconditional commitments from the potential lenders.
“I am confident that the potential lenders’ due diligence processes will be completed to their satisfaction and look forward to working together with the parties to timeously secure unconditional commitments for these facilities,” CEO Boris Kamstra said this week.