News Column

CuDECO Ltd. - Minsheng Bank Contract Signing

June 11, 2014

ENP Newswire - 11 June 2014

Release date- 10062014 - Further to the Company's announcement on Thursday, 5 June confirming that the conditions for approval of this facility had been met, the Company is pleased to report that CuDeco Directors completed the formal contract signing for the $US65M Credit Facility with Minsheng Banking Corporation in China on Friday 6th June, under the 'terms and conditions' announced on 7 April 2014.

The credit facility is to provide financing for the 3 million tonne per year, mineral processing plant at the CuDeco's 100% owned Rocklands Group Copper Project near Cloncurry in NW Queensland. Construction and installation of processing equipment for the mineral processing plant commenced in August 2013.

The Company has been advised by the EPC contractors that installation of the major componentry for the mineral processing plant is now approximately 98% complete, with only piping, cable and electrical, conveyors and lighting installations left to complete. The EPC contractor for the Rocklands Project, China State-owned giant engineering company, Sinosteel Corporation of China, has advised that it is on time with the project and they are expecting to commence commissioning of the mineral processing facility before the end of 2014.



Unit 34, Brickworks Annex

19 Brolga Avenue


Tel: +617 5503 1955

Fax: +617 5503 0288


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: ENP Newswire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters