Skip to main content

SouthGobi announces equipment purchase loan

Published by , Editorial Assistant
World Coal,


SouthGobi has entered into a loan agreement on 6 July, 2017 and a supplementary loan agreement on 31 August, 2017 with Beijing Jin Rui Tian Chen Asset Management Co Ltd. for the purpose of financing the purchase of mining equipment to increase the production capacity of the company.

The key terms of the Equipment Purchase Loan are set out below:

  • Principal: RMB 69 million.
  • Maturity: 12 months from drawdown.
  • Interest rate: 12% per annum.
  • Repayment: the company shall repay the principal and accrued interests at maturity date.
  • Guarantee and security: The company will provide a corporate guarantee to cover the principal and interest owed, and provide mining equipment with value no less than RMB 69 million as security.

Read the article online at: https://www.worldcoal.com/mining/08092017/southgobi-announces-equipment-purchase-loan/

You might also like

Contango releases Lubu Coal Project update

Contango Holdings has released an update on its Lubu Coal Project, including a report that its wash plant has arrived on site, with its surface miner and laboratory on the way.

 
 

Embed article link: (copy the HTML code below):