News Column

Hong Kong : ASX Announcement by Resource Generation: Mobile Equipment Funding

August 22, 2014

As part of the debt funding for the Boikarabelo project, Resource Generation has signed a loan facility of up to US$113 million for the mobile equipment fleet for the project with Komatsu Financial Limited Partnership. The term is for five years from the first untilisation date. Resource Generation will be purchasing the equipment from Komatsu Southern Africa Pty Ltd. There are a number of conditions precedent for the loan including signing of the sale agreement for the equipment, registration of security over construction.

Paul Jury, Managing Director said: this agreement represents several important elements for the project. It not only secures the funding required for the mining fleet for stage one of the Boikarabelo Mine development but also establishes a key partnership for further mine expansion to occur. The transaction clears the way for final infrastructure designs and refines training and maintenance processes. In addition it provides clarity in relation to negotiations for remaining debt.'

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Source: TendersInfo (India)

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