Debt financing agreements worth $200 million could be finalized “any day” and are expected to catalyze equity financing to start the almost 30-month development of the 1.1 billion-tonne Colluli sulphate of potash project, the company said.
On the supply side, Fitch expects production misses from Australia to keep the market tight in the coming quarters as large diversified miners lose their appetite for mining coal.
After the opposition Labor party suffered heavy losses in coal-mining regions in Saturday’s Australian federal elections, the Carmichael project looks to be getting closer than ever to approval.
BHP Group CFO Peter Beavan told a strategy briefing on Wednesday that the world's biggest mining company has "no appetite" to grow its thermal coal assets.