INVESTORS CONFIRM FUNDING FOR CANADIAN ASBESTOS MINE EXPANSION
October 1st, 2010
BY MJ DESCHAMPS
THE CONSORTIUM of international investors looking to re-start production at one of Canada's last remaining asbestos mines has finally come through with firm offers of financing and letters of intent; meeting the Québec government's latest funding extension deadline of October 1.
A previous deadline had been set for August 15 for the consortium, led by Canadian-based private import-export firm Balcorp Ltd., to raise CAD25 million (USD24.2 million) in financing, in order to secure a CAD58 million (USD56.2 million) loan guarantee from the ...
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