PERTH (miningweekly.com) – Mineral sands miner MZI Resources has secured $5-million in funding to progress its land access programme at its Keysbrook project, in Western Australia.
The debt financing, provided by the company’s major shareholder Resource Capital Fund, will enable MZI to pursue further arrangements with landowners for mining access in line with the company’s long-term mine plan, said interim MD Steve Ward.
The debt financing will be combined with a A$16-million debt funding package secured with Resource Capital Fund in November of last year, and will be on similar terms.
The financing was subject to MZI securing a waiver from the ASX.