Dundas Titanium receives LoI for $208M to fund Dundas Ilmenite Project
2021-02-22 09:34:35 [Print]
Bluejay Mining's wholly-owned subsidiary Dundas Titanium has received a letter of intent (LoI) for $208M in debt funding from the Export-Import Bank of the United States (EXIM) to develop its proposed Dundas Ilmenite project in Greenland.
Last year, the Greenland government granted Bluejay Mining an exploitation license for its Dundas Ilmenite Project.
The license grants Dundas Titanium the rights to the ilmenite resource at the site. It is valid for an initial 30-year period. Furthermore, the license, which is valid for an initial period of 30 years that can be extended, allows Bluejay Mining to produce 440,000t per annum.
As per the current pre-feasibility study (PFS), the project has a mine life of 11 years and an onshore mineral reserve of 67Mt within a JORC-compliant indicated mineral resource of 117Mt.
Last year, the Greenland government granted Bluejay Mining an exploitation license for its Dundas Ilmenite Project.
The license grants Dundas Titanium the rights to the ilmenite resource at the site. It is valid for an initial 30-year period. Furthermore, the license, which is valid for an initial period of 30 years that can be extended, allows Bluejay Mining to produce 440,000t per annum.
As per the current pre-feasibility study (PFS), the project has a mine life of 11 years and an onshore mineral reserve of 67Mt within a JORC-compliant indicated mineral resource of 117Mt.
Ilmenite Conc Mozambican TiO2 52%min, Fe2O3 25%max CIF China
Unit:USD/mt
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