Objective is to expand upon the Father's Day Vein high grade gold discovery at the A Zone area of the Beta Hunt mine, near Kambalda, Western Australia.
Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.
The mining and quarrying industry is seeking government funding for an airborne geophysical survey program, considered an essential tool for attracting investment and job creation to the province.