Kimberley raises P23m for Lerala reopening

Workers preparing lerala mine for reopening in February next year
Workers preparing lerala mine for reopening in February next year

Diamond miner, Kimberley Diamonds Limited says it has secured $3-million (P23 million) in debt financing from China’s Zhejiang Huitong Auction to refurbish and recommission the Lerala mine and to fund ongoing operating costs.

In a statement released on Monday, the Australian Stock Exchange listed company said the funds would be provided under an existing loan agreement with Zhejiang, bringing the total funding to A$13 million (P98 million).

“Zhejiang Huitong Auction has agreed to provide KDL with a further A$3 million in debt finance. These additional funds will be provided under the terms of the loan agreement previously entered into with Zhejiang.

Editor's Comment
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