Citadel Signs Advisors for Saudi Copper Project

23 August 2009 (Last Updated August 23rd, 2009 18:30)

Australia’s Citadel Resource Group has signed Riyad Bank and WestLB to act as lead advisors to arrange debt financing for its Jabal Sayid copper project located in Saudi Arabia. As part of the agreement the banks will evaluate the project’s definitive feasibility study and will struct

Australia’s Citadel Resource Group has signed Riyad Bank and WestLB to act as lead advisors to arrange debt financing for its Jabal Sayid copper project located in Saudi Arabia.

As part of the agreement the banks will evaluate the project’s definitive feasibility study and will structure, source and evaluate debt financing proposals.

Citadel’s primary asset is the Jabal Sayid copper project and Riyad Bank’s unique understanding of the Saudi economy and industry will be integral to securing financing, the company said.

Citadel is an emerging producer focused on gold and base metals and is currently working on a feasibility study of the Jabal Sayid project.