Alphamin Resources secures $80mn funding for Bisie Tin project
Alphamin Resources, currently developing what could very well be the world’s premier tin deposit, has announced that it has received significant funding towards mine construction.
The company announced today that it has secured a credit facility of $80mn from a syndicate of lenders for the construction of its Bisie Tin Mine, North Kivu, in the DRC.
This is a huge bonus for the company, with the Bisie Tin Deposit identified as one of the most significant tin mines in the world and a production start date targeted for 2019.
“Alphamin is focused on unlocking one of the richest tin deposits in the world and, as a result, the entire North Kivu region of the DRC. This is a very rare opportunity where you have both the potential for an extraordinary financial return in a particular project and a host of developmental returns in the surrounding region and in the country in particular,” says Boris Kamstra, CEO of Alphamin Resources.
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“We believe that we have a world-class tin deposit that is managed by an experienced team and is supported by well capitalised investors who are astute industry specialists,” continues Kamstra, “and the ABM project provides the ideal foundation to build a premier tin producer.”
The credit agreement was signed by Alphamin with Sprott Private Resource Lending LP, Barak Fund SPC Limited and Tremont Master Holdings, collectively, referred to as the “lenders”.