https://www.miningweekly.com

Bluejay receives Exim LoI for $208m to build Greenland mine

15th February 2021

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Exploration and development company Bluejay Mining on Monday announced that it had received a letter of intent (LoI) for $208-million to fund the capital requirements of its Dundas ilmenite project, in Greenland.

The LoI is from the Export-Import Bank of the United States (Exim).

Bluejay said it was also in discussions with European export credit agencies and other traditional commercial lenders to ensure the most favourable commercial terms for the development of the mine.

Greenland granted Bluejay an exploitation licence for Dundas in December, allowing it to implement plans for its initial 440 000 t/y ilmenite concentrate operation.

The current prefeasibility study mine life is 11 years and is comprised of an onshore mineral reserve of 67-million tonnes within a Joint Ore Reserve Committee-compliant indicated mineral resource of 117-million tonnes.

The current capital expenditure is estimated at $245-million. Optimisation of the ore sorting and magnetic separation could reduce the estimate.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

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:0.045 1.508s - 128pq - 2rq
Subscribe Now