https://www.miningweekly.com

Aguia secures loan to fund phosphate project

8th June 2021

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Australia-listed Aguia Resources has announced a A$3.75-million loan from the Development Bank of Southern Brazil (BRDE) to fund the Tres Estradas phosphate project.

Combined with the A$4.48-million that Aguia has in the bank, the company now has sufficient capital to fund the A$7.37-million capital expenditure for the construction of the project.

“BRDE’s funding support is a major vote of confidence in Tres Estradas and a key milestone that we have met to deliver the project into production,” said MD Fernando Tallarico.

The 20-year loan will have an interest rate of 12% a year attached to it.

Aguia is in the final stages of project land acquisition, which will pave the way for the installation licence. Following the receipt of the licence, construction will take between six and eight months. First production is expected in the first quarter of 2022.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







sq:0.055 0.78s - 128pq - 2rq
Subscribe Now