JOHANNESBURG (miningweekly.com) – ASX-listed Alara Resources was making “steady progress” at its Al Hadeetha copper/gold project, in Oman, the company reported on Tuesday.
Alara was advancing project financing negotiations and said the financing arrangement would consider Sharia compliant and conventional banking projects.
Vendor financing options were also being considered with key suppliers, the Australia-headquartered junior reported.
Further, Alara was advancing the mining licence application for the project, which had the potential to produce 34 000 t/y of concentrate.
Alara reported last month that the Al Hadeetha project could start production as early as the third quarter of 2017.
A feasibility study estimated that the project would require a capital investment of A$49.39-million and that it would deliver revenues of A$586.5-million over a ten-year mine life.
The Al Hadeetha project is a joint venture between Alara and privately held Al Hadeetha Investment Services.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
