(Ecofin Agency) - Mining projects developer MOD Resources is negotiating a $182 million loan with banks for its project in Botswana.
According to the Australian firm, potential lenders have sent encouraging offers after completion of the feasibility studies. It added that there were ongoing negotiations with potential partners.
MOD Resources became the sole stakeholder in this project on November 15, 2018, after the acquisition of the remaining 30% owned by another partner. Starting from 2021, it expects to produce 3 million tons of copper during the lifetime period of this project (11.5 years).