Some great news on the financing front, although not to NHC:From...

Some great news on the financing front, although not to NHC:

From 'The Australian' - should be in the paper on Friday 2 July 2021:

"The Northern Australian Infrastructure Facility will extend a $175m loan to Pembroke Resources to help build a coking coal mine in Queensland, backing a coal project for the first time in the $5bn fund’s history.

Federal Resources Minister Keith Pitt waved through the NAIF board’s decision to back the Olive Downs coking coal mine this week, only a few months after he blocked a $280m loan to a wind farm in North Queensland.

Olive Downs is primarily a coking coal mine, with more than 90 per cent of its product destined for steel mills. Like many metallurgical coal mines in Queensland, however, it is likely to sell some thermal coal as a by-product of mining the higher grade coking seams.

Mr Pitt said his decision to wave through the NAIF board recommendation was based on the mine’s job creating potential, with Olive Downs likely to create 700 construction jobs as it is built and 500 ongoing operating positions.

“NAIF has approved a loan of $175m to support the mine’s first stage of development which includes rail, and transmission lines, water pipelines, access roads and a coal handling preparation plant,” he said..."