ANNOUNCEMENT 22 Jun 2020
The Australian government-funded Northern Australia Infrastructure Facility (NAIF) has announced the approval of a loan to a mineral project owned by Strandline Resources Limited.
NUMBER OF INTERVENTIONS
Northern Australia Infrastructure Facility. Media Releases Archive. "NAIF loans top more than $2 billion following approval for Western Australia critical minerals project" of 22/06/2020. Available at: https://naif.gov.au/media-releases/naif-loans-top-more-than-2-billion-following-approval-for-western-australia-critical-minerals-project/
On 22 June 2020, the Australian government-funded Northern Australia Infrastructure Facility (NAIF) announced the approval of a loan of up to AUD 150 million (over USD 103.5 million at the time of the announcement) to Strandline Resources Limited for the development of the Coburn Heavy Mineral Sands Project in Western Australia.
The resources will be used to finance a processing plant among other key infrastructure needed to produce zircon-titanium.
It is expected that the project will generate up to 315 new Jobs and a net public benefit of AUD 922 million (ca. USD 636.5 million).
Northern Australia Infrastructure Facility (NAIF)
NAIF is an AUD 5 billion lending facility created by the Australian Government to finance infrastructure projects located in northern Australia or with significant impact for that region, and that are of public benefit and engage the indigenous people (please, see related state acts)
The loans provided by NAIF have a lower interest rate than commercial lenders and borrowing tenors of up to 30 years.