Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Moly Mines Limited (TSX:MOL)(ASX:MOL) said today it has signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge), Australia.
The facilities consist of a US$454 million Syndicated Facility Agreement (SFA) and a US$40 million working capital facility with CDB. Hanlong Mining Investment Pty Ltd (Hanlong) will also provide a US$6 million junior subordinated loan on terms consistent with the SFA over the coming months to fulfill Hanlong’s US$500 million commitment to Moly Mines.
