I can't remember the precise JV name, but it is the main operating JV that is the combination of Alara, Al Hadeetha and Al Tasnim. This loan was provided by Alara many years ago to fund the feasibility study etc that enabled them to get the ball rolling on creating a mine - it was very necessary at the time and from memory it required a vote from Alara's shareholders and the shareholders approved the loan.
As I posted previously in this or another thread, the priority now should be to pay off the Sohar loan that was used to fund the building of the mine and process plant etc. The JV is paying interest on that loan (I don't know the rate off hand), whereas Alara itself (the publicly listed company) is earning interest on the loan that was provided to the JV company - so it obviously is better for Alara if the loan to Sohar is paid back as soon as possible.
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