MZI Resources

BurnVoir acted as financial adviser and arranger to MZI Resources Limited to fund the development of the 100% owned Keysbrook Mineral Sands Project, located 70km south of Perth in Western Australia.

BurnVoir advised MZI through to successful completion of the US$110 million project financing of the Keysbrook Mineral Sands Project. Our role was extensive, initially assisting MZI to conclude its Feasibility Study through to the successful completion of the US$110 million project financing of the Keysbrook project, comprising US$58.0 million facilities from Resource Capital Fund (comprising royalty, convertible note and subordinated bridge facilities), US$48 million senior debt facilities from Rand Merchant Bank (construction debt, working capital and rehabilitation guarantee facilities) and mining equipment facility from Komatsu.

Keysbrook was fully funded through to production, with a 79Mt resource and 26Mt reserve. Production of 38ktpa of 88% TiO₂, 29ktpa of 70% TiO₂, and 29ktpa zircon concentrate commenced in Q4 2015. MZI had binding sales contracts with DuPont and Tricoastal / Wensheng for 85% of production for the initial 5 years of operations.

Overview

Date

2014

Client

MZI Resources

Sector

Resources

Transaction Value

US$110M

Summary

BurnVoir acted as financial adviser to MZI Resources Limited, assisting MZI through the conclusion of the Feasibility Study on the Keysbrook mineral sands project through to drawdown of project financing.
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