 is progressing on the development of the WA Hemi gold project after receiving a $150m loan from the Federal Government’s Northen Australia Infrastructure Facility (NAIF).){kind=link}
$150m boost for De Grey’s Hemi gold project
De Grey (ASX: DEG) is progressing on the development of the WA Hemi gold project after receiving a $150m loan from the Federal Government’s Northen Australia Infrastructure Facility (NAIF).
De Grey managing director Glenn Jardine says the company appreciates the strong support for the development shown by NAIF and acknowledges the important role played by the Federal Resources and Northern Australia Minister Madeleine King and the Federal Northern Australia Special Envoy Luke Gosling.
“Hemi is an important project for the Pilbara region which will help provide commodity diversification and new mineral processing skills in what is already a mining heartland of WA,” he said.
“The Hemi processing facility will be a strategic long-term piece of regional infrastructure with potential to process gold ores from the Pilbara and potentially from other parts of Northern Australia.
“Hemi is located on Kariyarra lands and the development of the project will provide the Kariyarra People with important economic, employment and vocational opportunities.
“It will also support the preservation of Aboriginal cultural heritage and land management through the establishment of a ranger program within Kariyarra country around the Hemi area.
“With the support of NAIF, our commercial lending syndicate and a large existing cash balance, we expect to be in a position to complete the project financing for Hemi in the current December half 2024.
“A final investment decision will then be dependent on the timing of the receipt of final environmental approvals.”