Avanti Scores $640M In Financing For Canadian Mine Dig

Law360, New York (April 19, 2012, 4:52 PM EDT) -- Avanti Mining Inc. has entered into a mandate letter with five lenders to cover the bulk of the $850 million it needs for its premier project, a molybdenum mine in British Columbia that was last drilled in the early 1980s, the company said Thursday.

The lenders preliminarily agreed to pick up $640 million of the Kitsault Mine dig's total price, including $560 million in senior debt and another $80 million to cover cost overruns, Avanti said. The lenders include UniCredit Bank AG, KfW IPEX-Bank, Export Development...
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