TORONTO: Royal Nickel Corporation has appointed Swedbank Norway as advisors for the contemplated senior bond financing of approximately US$600 million with a five year maturity for its Dumont Nickel Project located in the Abitibi region of Quebec.
The Dumont Nickel Project is located in the established Abitibi mining camp in the municipalities of Launay and Trécesson, 25km northwest of Amos, Quebec. RNC also owns interests in two advanced stage nickel exploration properties: the Aer-Kidd project near Sudbury, Ontario and the West Raglan project in northern Quebec
Mark Selby, President and CEO of Royal Nickel, says, "With the receipt of the main environmental permit expected before the end of this month, we are now focusing on the final task of raising sufficient financing to begin construction of Dumont, which is expected to be one of Canada's largest base metal mines. We are excited by the prospect of working with Swedbank to complete both this cornerstone financing and the balance of the capital required to allow construction to begin at Dumont by early 2016. Dumont will be well-positioned to take advantage of the significant improvements expected in the nickel markets through the balance of this decade."
Swedbank will work closely with RNC with respect to arranging the senior project bond finance facility and support RNC efforts in international markets to secure the additional equity and other capital required to complete the financing.
Over the last 24 months, Swedbank has raised more than US$7 billion in bond financing for companies in the energy, transportation and mining sectors. In particular, Swedbank has a strong and consistent track-record of successful project financings in the natural resources segment.
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