26 MAY 2011www.proactiveinvestors.com.au
Ord River Resources reports project financing proposal received for SARCO alumina refinery in Laos
Edited by : AL CIRCLE
1 min read
Ord River Resources (ASX: ORD) has achieved a major milestone for the production development of the company.
China Minsheng Banking Corporation (CMBC) has stated in a letter of proposal to Sino Australian Resources (SARCO), “It is the bank’s intention to provide the necessary project financing SARCO requires."
SARCO has proposed building a US$600 million, 600,000 tonne per annum capacity alumina refinery in Laos.
The large size of the refinery should rank SARCO immediately behind Alumina (ASX: AWC) in size. SARCO plans to close the gap by moving into production, expanding refinery capacity and acquiring new projects.
China Minsheng Banking Corporation (CMBC) has stated in a letter of proposal to Sino Australian Resources (SARCO), “It is the bank’s intention to provide the necessary project financing SARCO requires."
SARCO has proposed building a US$600 million, 600,000 tonne per annum capacity alumina refinery in Laos.
The large size of the refinery should rank SARCO immediately behind Alumina (ASX: AWC) in size. SARCO plans to close the gap by moving into production, expanding refinery capacity and acquiring new projects.
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