In royalty we trust? « Mining Blog

In royalty we trust?

7. September 2012,

BlackRock World Mining Trust isn’t alone in finding it difficult to raise investment for mining projects at present.

And it should know – given it has provided finance for numerous companies in the sector in recent years.

Now, the Trust has provided US$110 million to London Mining plc, in return for its securing a 2% revenue-related royalty, calculated on the London-listed mining company’s iron ore sales from its Marampa iron ore mine in Sierra Leone.

The Trust’s fund manager, Evo Hambro, has told the Mining Journal that this arrangement was “a first” for his firm, explaining that “capital has become more expensive, as well as being just generally harder to find…So everything is on the table regarding financing” [MJ 3 August 2012].

For more on BlackRock World Mining Trust, see:

http://moneytometal.org/index.php/BlackRock_World_Mining_Trust_PLC

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