New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
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.
News For AXX From The Last 14 Days
Check below for free stories on AXX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2014
09:24 EDTAXXAlderon announces off-take transaction with Glencore
Alderon Iron Ore announced that The Kami Mine Limited Partnership, an affiliate of Alderon, has entered into an off-take agreement with a subsidiary of Glencore, with respect to an off-take transaction pursuant to which Glencore will acquire all of actual annual production from the Kami Project that has not been allocated to Hebei Iron & Steel Group Co., Ltd. Under the terms of the Off-Take Agreement, Glencore will be obligated to purchase, upon the commencement of commercial production, 40% of the actual annual production from the Kami Project up to a maximum of 3.2M tonnes of the first 8M tonnes of iron ore concentrate produced annually at the Kami Project. The term of the Off-Take Agreement will continue until Kami LP has delivered 48M tonnes of iron ore concentrate to Glencore, which is expected to be 15 years after the commencement of commercial production.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use