MMG says that, yesterday, it entered an amended agreement with the China Development Bank and the Bank of China’s Sydney branch – for a term debt facility of up to US$550 million.
However, 3 years ago, the original facility agreement from both Banks was for US$1 billion.
MMG also expects the production of its first zinc concentrate in the first half of 2018, and the remaining expenditure to complete the Project will be around US$ 600 million.
MMG reported a net loss of $1.44 billion at 31 December 2015.