Platmin has agreed terms on a R350 million bridging loan with Standard Bank to provide funding for its Pilanesberg project.

The four-month loan from May 9th 2008 will finance the building of the Pilanesberg mine project which began in October.

About 30 per cent of the project has been completed so far, the firm told Mining Weekly Online.

Production on the project is due to start in March 2009 after mining officially began in March this year, the website said.

Standard Bank became Platmin's financial advisor last year and has been the lead arranger in securing $200 million in project debt financing.

Initial funding for the project came in the form of equity funding.



Source:

Platmin secures R350m bridging for Pilanesberg project, 15/05/08
http://www.miningweekly.com/article.php?a_id=133348