Moly Mines Limited (TSX:MOL) has signed a Memorandum of Understanding with China Development Bank Corporation to finance new mining projects.

As quoted in the press release:

Under the Strategic Alliance, CDB will consider providing financial support (including loans) for projects on terms with a similar commercial effect to CDB as those set out in the existing US$454 million Syndicated Facility Agreement (SFA) for the Spinifex Ridge Molybdenum / Copper Project.

Click here to read the Moly Mines Limited (TSX:MOL) press release.