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Stock Market & Financial Investment News

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February 25, 2014
09:09 EDTAXXAlderon concludes power purchase agreement for Kami Project
Alderon Iron Ore announces that it has satisfied the remaining conditions for the confirmed power supply for the Kami Iron Ore Project, as its affiliate The Kami Mine Limited Partnership has entered into a Power Purchase Agreement and security agreement with NLH, a subsidiary company of Nalcor Energy. Additionally, in order to fund the first security deposit required under the Security Agreement, Kami LP has received a $22.0M loan from Liberty Metals & Mining. "The Power Purchase Agreement was a key infrastructure requirement and is critical in securing the previously announced debt financing and we are very pleased to have finalized it," the company said.
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