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Mining Weekly reported Mwana Africa (LSE:MWA) said its subsidiary Bindura Nickel Corporation will raise $21-million to restart the Trojan nickel mine in Zimbabwe.
Mining Weekly reported Mwana Africa (LSE:MWA) said its subsidiary Bindura Nickel Corporation will raise $21-million to restart the Trojan nickel mine in Zimbabwe.
As quoted in the market news:
Mwana, through its subsidiary Zimnick, would act as underwriter for the proposed rights issue, which would fund the first $21-million of the estimated $33-million needed to get the Trojan mine into production.
The venture is anticipated to generate revenue in the first year of operation.