Deals this week: Sofia Med, Mayur Resources, Black Rock Mining

11 January 2019 (Last Updated January 10th, 2019 10:35)

Sofia Med has secured a €25m ($28.4m) loan from the European Bank for Reconstruction and Development (EBRD).

Sofia Med has secured a €25m ($28.4m) loan from the European Bank for Reconstruction and Development (EBRD).

The company plans to use the funds towards expanding its production capacity for higher value-added products. The loan will also be used in a new research and development unit for the development of a new range of products.

Based in Bulgaria, Sofia Med is a metal processing company specialising in copper and brass products, while EBRD is a UK-based international financial institution.

Mayur Resources subsidiary MR Iron PNG (MIPP) has entered an agreement with China Titanium Resources Holdings (CTRH) for the Orokolo Bay mineral sands project.

CTRH will provide $25m for the construction of a pilot plant and full‐scale plant for the project. It will provide 50% of the funding for the construction of the stage-1 pilot plant, while the remaining will be financed by Mayur Resources.

Under the terms of the agreement, CTRH will receive a 2% equity interest in MIPP for each $1m invested and be responsible for the operating costs of the stage-1 pilot plant and the related bulk sampling programme.

The transaction is expected to be completed by the end of January.

“CTRH will provide $25m for the construction of a pilot plant and full‐scale plant for the project.”

Mayur Resources is an Australian mining company engaged in the exploration of copper, gold and power generation, while CTRH is a Chinese mining and ore processing company.

Black Rock Mining has entered a three-year offtake agreement with Taihe Soar of Dalian for its Mahenge graphite mine.

Taihe Soar will off-take 37,500tpa in the first year, 80,000tpa in year two, and 100,000tpa in year three.

The deal is subject to completion of the construction of the mine and commencement of operation.

Taihe Soar is a China-based supply chain management company, while Black Rock is an Australian mining company.

Santa Fe Gold has acquired the Billali and Jim Crow Imperial mines for $10m.

Santa Fe will make a $25,000 payment upon closure of the deal, followed by two payments in January and February, as well as further monthly payments for up to 6.5 years.

Based in the US, Santa Fe is a mining company engaged in exploration and development.