Category
- Agriculture
- Automobiles and Machinery
- Bank, non banking financing, investment
- Blasting
- Construction
- Consumables
- Education
- Energy
- Engineer , Architecture and Geodesy
- Finance, Audit,Accounting and Brokerage
- Food
- Foreign Trade
- Geology Exploration
- Health
- Information Technology
- Insurance
- Labor Safety
- Legal and Business consulting
- Lighting
- Mining equipment
- Mining Services
- Other product and service
- Road
- Sewing and textile products
- Transportations
- Travel
Events
Erdene Resource Development Corp executes project finance mandate letter with Export Development Canada www.montsame.mn
Ulaanbaatar /MONTSAME/ Erdene Resource Development Corporation has executed a mandate letter with Export Development Canada (EDC) for an up to USD55 million senior secured debt facility to develop the Bayan Khundii Gold Project in southwest Mongolia.
EDC’s financing for the project is conditional upon the satisfactory completion of due diligence, which is currently underway and expected to conclude in the second quarter of 2021.
"Executing the debt financing mandate letter with EDC is an important milestone in the development of our high-grade Bayan Khundii Gold Project,” said Peter Akerley, Erdene’s President and CEO.
“EDC has assisted many companies in developing mining projects internationally, including in Mongolia. The involvement of EDC, as well as our major shareholder the European Bank for Reconstruction and Development will help to ensure that the project will be developed to the highest environmental and social standards, delivering benefits for Mongolian and international stakeholders.”
“Construction readiness work is underway as we seek to move rapidly through construction to production, with detailed design, scheduling and procurement workstreams well progressed,” continued Mr. Akerley.
Concurrently, the company is focused on expanding the resources throughout our Khundii Gold District as it targets first gold in 2022.
source: Erdene Resource Development
Published Date:2020-11-09
