Ann: Environmental Certificate Paves Way for Mining Licence, page-25

Hi HKP,,, sorry for late reply been at work. Ok , from my limited understanding of mining project financing commercial banks are quantative risk analysis fixated, whilst DFI's are social/environmental impact fixated. The difference arises from the DFI's ownership which is primarily governments - their instrument to assist development of third world countries that have higher sovereign risk and find it harder to source favourable financial terms:

Mayer Brown 2014
Introduction
Once exploration has indicated the presence of an ore body, which has the potential to be developed into an economically viable mine, a number of alterna- tive financing sources will present themselves.

Development finance institutions

Development finance institutions (DFIs) provide a variety of credit instruments including senior and subordinated debt, equity stakes and risk guarantee instru- ments. The shareholders of DFIs are typically governments (though occasionally other financial institutions or organisations do hold shares). In principle, DFIs will accept higher project and country risk than commercial banks, provided that the borrower demonstrates commitment to benefiting the host nation and complies with stringent environmental and social standards (i.e. labour, social security and protection of indigenous peoples).

DFIs will therefore be particularly concerned with the representations, covenants and warranties in relation to performance and labour standards, environmental laws and practices, anti-corruption, social law and exclusion of activities against public
morals (e.g. child labour). They may require periodic monitoring reports covering such topics to be com- pleted by the borrower. During the due diligence phase, DFIs will be particularly concerned with the history of the project, the shareholders and how they obtained their shareholdings, the mining licence(s) (including how these were obtained), as well as reputational and anti-bribery matters. DFIs may also act as management consultants and technical advisers for the project.

Have KNL's management team winning awards for:
social contribution - Order of Australia Medal in 2003 for personal contribution to social development and presidential zZeze award for cultural development ....
AND
The environment - Presidential Award for Environmental Excellence and Leadership
ALONG WITH
Environmental Impact Assessment Certificate
JUST SATISFIED
the DFI's twin primary concerns to trigger project financing ???

And from the same article ' leaders series Mining Journal - 2014 '

The Global Mining Finance Guide has brought together several of the mining industry’s leading professionals – from some of the most respected companies to service the sector – to share their unique insights and explain the intricacies behind mining finance.
...... The panellists reiterated that the top priority for lenders, when considering whether to fund a company, was the necessity for a management team with a proven track record of developing mines and delivering on their promises. This was aside from looking for a good-quality project – which should go without saying

Knl ticking all the boxes