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.