Australia’s Ord River Resources has signed a A$10m subscription agreement with China Non-Ferrous Metals International Mining (CNMIM).

Under the deal, named the Equity Line Facility, CNMIM will subscribe shares worth A$10m over the next three years on mutual agreement when required by Ord.

The deal is a part of the company’s overall capital management strategy to strengthen Ord financially and the proceeds will be used to fund projects, acquisitions and general working capital, Ord said.