NAIF Approves A$150M Loan For Coburn

The Northern Australia Infrastructure Facility (NAIF) has approved a loan of up to A$150-million towards the development of the Coburn heavy mineral sands project, in Western Australia.

Project developer Strandline Resources on Monday said that the loan would be provided in two tranches, and would be based on a 15.5-year term.

The first tranche of up to A$130-million will go towards the construction of the core mine infrastructure, while the second tranche of A$20-million will fund a potential future northern access road, linking the project more directly to the Denham community in Shark Bay.

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