THREE Chinese banks have formally lodged expressions of interest to fund the debt financing component of Iron Road’s $US4 billion Central Eyre Iron Project, which includes the mine, processing facilities, port, railway and other minor infrastructure.
Iron Road stakeholder engagement principal advisor Tim Scholz said the banks – Industrial and Commercial Bank of China, China Development Bank and China Construction Bank------------------- - included the two biggest banks in the world.
Mr Scholz said the China Railway Group had confirmed it would take about 50 per cent of the product (10-million tonne concentrate) each year from the completed mine.
Iron Road is waiting on a decision from the state government on its applications for a mining lease and associated infrastructure approvals.
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