KDL Secures another $2.2 Million in Debt Finance
October 12, 15
(IDEX Online News) – Kimberley Diamonds Ltd (KDL) today (Monday) announced that Zhejiang Huitong Auction Co Ltd has agreed to provide a further AUD$3 million ($2.2 million) in debt finance.
This brings the total provided to KDL by Zhejiang to AUD$13 million ($9.5 million).
The funds will be used in the refurbishment and re-commissioning of the plant at KDL’s Lerala Diamond Mine in Botswana, as well as to ongoing operating costs.
The company said it is continuing to look for potential investors in relation to the further funding required to complete the re-commissioning work and re-open the Lerala mine.
KDL said that the refurbishment and re-commissioning project at the mine continues to make good progress.