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 is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.