JOHANNESBURG (miningweekly.com) – To accelerate the development of its Poland-based Debiensko hard coking coal project and advance preconstruction engineering works at its Jan Karski mine, dual-listed Prairie Mining has secured $2-million in funding from its cornerstone investor CD Capital Natural Resources Fund.
The investment will take the form of a private placement of nonredeemable, non-interest-bearing convertible loan notes and is upsized from a previously announced A$2-million.
"The additional investment reaffirms the global significance of our tier one coking coal assets. We are delighted with the continued support from our cornerstone investor who shares Prairie's vision to become Europe's next strategic coking coal supplier,” said CEO Ben Stoikovich.