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Plinian Capital Seeks $40 Million to Restart Zambian Mine
May. 25, 2015 07:36AM PST
Base Metals Investing Mineweb reported that Plinian Capital plans to raise $40 million from private equity funds to restart the Munali nickel mine, where operations ceased in 2012.
Mineweb reported that Plinian Capital plans to raise $40 million from private equity funds to restart the Munali nickel mine, where operations ceased in 2012.
As quoted in the market news:
The company is in talks with investors, Anton Mauve, a partner at London-based Plinian, said in reply to e-mailed questions on Wednesday. He declined to name them.
Plinian is hoping to re-open the Munali nickel mine, about 60 kilometers (37 miles) south of Lusaka, the capital. Previous owners have halted operations twice since it opened in 2008 as they struggled with its geology and falling nickel prices. Work was most recently suspended in 2012.