Blackstone Minerals is understood to have struck a $6.5 million...

Blackstone Minerals is understood to have struck a $6.5 million funding deal with South Korea’s biggest cathode producer to help develop its Ta Khoa nickel project in northern Vietnam.Under the terms of the agreement, it is believed EcoPro will take new shares at 17¢, representing a 62 per cent premium to the company’s last traded price of 10.5¢.WestBusiness understands the deal will give the $US900 million company a 17 per cent stake in Blackstone and a seat at its board.The transaction follows a memorandum of understanding between the two companies signed in December last year.Previously focused on cobalt projects in Canada, Blackstone acquired a 90 per cent stake in the Ta Khoa, which includes the mothballed Ban Phuc underground nickel mine, in May.The company hopes to release a maiden resource for Ta Khoa soon and restart the mine in association with a proposed downstream processing facility that would provide nickel products for EcoPro’s cathode manufacturing operations.Shares in the Scott Williamson-led explorer were placed in a trading halt on Thursday and are expected to resume trade today.