Australia's Metro Mining Ltd. announced that it received a loan of A$47.5 million from the Northern Australia Infrastructure Facility (NAIF).
Right now, NAIF was expanding the bauxite mine, and the loan would cover about 85% of the total cost of the project.
Simon Finnis, the chief executive officer (CEO) of Metro Mining, responded that the loan would support Metro Mining's bauxite expansion and create a large number of job openings in the surrounding community for the next several years.
NAIF believed the local economy needed to be driven by mining companies and could increase the local employment rate.
Metro Mining, headquartered in Brisbane, was an aluminum mining company second only to Rio Tinto Alcan.
Metro Mining receives A$47.5 million loan from NAIF
14 Nov 2019 15:40 reported by Justin Yin
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