New Century Resources inks $58m debt to kick mine into production

Company News

by Jessica Amir

Zinc miner, New Century Resources (ASX:NCZ) has inked a $58 million [US$45 million] debt facility to find its mine restart.

New Century Resources says the facility will help it to become a significant zinc producer in 2018.

Once the lending process is complete, mine development will begin immediately.

The company says the deal was on attractive terms too for three years.

The funds will be used for the commission process and for it to achieve production in 2018.

Shares in New Century Resources (ASX:NCZ) closed over 3.9 per cent lower yesterday at $1.47.   

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.