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MMI, Metro Mining Limited
post Posted: Nov 12 2019, 01:35 PM
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A$47.5M Loan Facility from NAIF

■ The Board of the Northern Australia Infrastructure Facility (“NAIF”) has made an Investment
Decision to offer a Loan Facility for Metro Mining Limited’s Bauxite Hill’s Mine Stage 2 Expansion
to 6.0 Million Wet Metric Tonnes (“WMT”) per annum.
â–  The Facility is for up to A$47.5 Million provided through a loan for up to 9 years.
â–  The NAIF funding is to be used for the construction and mobilisation of a Floating Terminal at
Skardon River. The Floating Terminal is the main component of Stage 2 comprising around 85%
of the total estimated capital costs.
â–  Metro and NAIF are working together to finalise documentation and satisfy customary Conditions
Precedent (“CPs”) to drawdown including all Government approvals in relation to the financing.
■ The NAIF funding is a critical part of Metro’s funding strategy for execution of the expansion
at Bauxite Hills by 2021.
â–  Final Metro Board decision will follow completion of the detailed engineering and design work
from Rocktree Consulting S.r.L (“Rocktree”).

The NAIF Facility is subject to written agreements being entered into between the parties and
satisfaction of customary CPs to drawdown. These CP include:
▪ Conclusion of the Federal Ministers’ consideration period as outlined in the NAIF Act 2016; and
▪ Finalisation of the Queensland Government’s consideration of the Project and its agreement
for the approved funds to be advanced.

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