NAIF approves A$150m for Hemi gold project
Northern Australia Infrastructure Facility (NAIF) has agreed to terms for a A$150-million loan to support development of ASX-listed De Grey Mining's Hemi gold project, in the Pilbara region of Western Australia.
The terms agreed with NAIF include a commitment by De Grey to continue to engage closely with the Kariyarra People, the Native title holders of the land on which Hemi is located, and to drive positive outcomes for traditional owners.
The NAIF loan will form part of the lending syndicate which is expected to provide a combined A$1-billion senior debt facility and A$130-million cost overrun facility which, together with De Grey’s existing cash balance, were expected to be sufficient to finance the development of Hemi.
“Hemi is an important project for the Pilbara region which will help provide commodity diversification and new mineral processing skills in what is already a mining heartland of Western Australia. The Hemi processing facility will be a strategic long-term piece of regional infrastructure with potential to process gold ores from the Pilbara and potentially from other parts of Northern Australia,” commented MD Glenn Jardine.
He said that De Grey expected to be in a position to complete the project financing for Hemi in the current December half-year.
A final investment decision will then be dependent on the timing of the receipt of final environmental approvals. Hemi will produce an average of 530 000 oz/y over its first ten years of production.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
