Alphamin Resources secures $80mn funding for Bisie Tin project

By Dale Benton
Alphamin Resources, currently developing what could very well be the world’s premier tin deposit, has announced that it has received significant fundi...

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.

Related stories

“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”.

 

Share

Featured Articles

China increases copper import pace, following price plummet

In August, China reached a 26% rise - representing a 100,000+ tonne increase - in copper imports year-on-year, largely driven by product price drops

Ford criticises “inefficient” government mining permissions

In a letter to the US Department of the Interior, the car giant Ford has asked the American government to speed up its current mining permission process

Aggreko and Labyrinth Resources’ sustainable power project

Labyrinth Resources has been working with Aggreko to complete a virtual pipeline power project, which is designed to aid the sustainable energy transition

Despite regional ban, crypto miner Canaan doubles profits

Digital Mining

The future of all-electric sustainable mining technologies

Sustainability

Anglo American first half earnings decline 28 percent

Supply Chain & Operations