Queensland based Bracken International Mining (BIM) has secured a EUR 200 million funding package through Chinese based Zigong Commercial Equity Partners Fund SP.
Mullumbimby, NSW, July 26, 2011 - The funding structure is a three year facility that will support BIM once it completes its listing on the Frankfurt Stock Exchange in the coming months and is the first funding deal Zigong has facilitated for an Australian company.
BIM executive chairman, Luke Bracken, says the company has moved up the mining ranks from owner operator of one of the largest sand mines in New South Wales to a major stakeholder in five high grade manganese mines in the West Timor province of Indonesia.
"This funding package is the culmination of 15 years successful operation as a private company and will enable BIM to enter the manganese market amongst others, with a truly aggressive global reach," Mr Bracken says.
"We have confirmed reserves in excess of 200 million tons throughout the five mines and our first year revenues will be generated from selling lump ore direct to steel makers in China through relationships with our New York trading partners.
"Along with the take over as majority owner of the mines BIM also takes ownership of the government license to build and operate our own smelter, enabling us to process its 50 to 68 percent lump ore into end grade silicon and ferrous manganese products for steel manufacturing customers in China and Europe."
BIM will run its mines through its mine management company Redstar Mining
The company is also well advanced in negotiations regarding expansion into thermal coal in Australia and Indonesia and gold mining operations in the United States.
Zigong Commercial Equity Partners Fund SP is as segregated portfolio company of Cayman based Equity Partners Fund SPC.
For all media enquiries contact Bruce Nelson on +61 (0) 423 403 449 or bruce@zakazukha.com
About Bracken International Mining (BIM):
Bracken International Mining is an Australian based mining company with sand mining operations in northern NSW and manganese mining interests in Indonesia. The company was founded by Luke Bracken, owner and operational CEO of Broken Head Quarry (BHQ), the largest sand mining operation in northern NSW. BHQ shareholders include former Australian of the Year yachtsman Iain Murray, Mallesons senior partner Stuart Dixon, and entrepreneur Bob Oatley. Mr Bracken established BIM after a successful real estate career which included the transformation of a 44,000sqm parcel of land into a transport oriented development mixed use precinct site worth $1billion in Brisbane and the development of the 12 level Points North building on the Queensland Sunshine Coast.http://www.redstarmining.com.au
About Zigong Commercial Equity Partners Fund SP:
Zigong Commercial Equity Partners Fund SP is a segregated portfolio company of Equity Partners Fund SPC and focuses on equity investments in Asian and Australian public companies as well as private companies that will be listed on a securities exchange within six months of a funding commitment. The Fund looks for companies with experienced management teams that need additional capital for a variety of activities including working capital, acquisitions and other growth opportunities. Through the strategic relationship with Zigong Commercial Bank Co., Ltd. the investment model used by Equity Partners Fund SPC will be implemented to provide funding to qualifying companies. http://www.zigongequitypartners.com
About Equity partners Fund SPC:
Equity Partners Fund SPC focuses on equity investments in public companies with market capitalizations under $1 billion, as well as private companies that will be listed on a securities exchange within six months of a funding commitment. The fund is considered a private fund run by its principals similar to a merchant bank that invests its own capital. Unlike hedge funds which have significant regulatory burdens exposing their investors to higher risks, Equity Partners Fund is able to act quickly, is more flexible when it comes to structuring an investment and has less regulatory burdens.http://www.equitypartnersfund.com/
Contact:
Bruce Nelson
Bracken International Mining
78 Burringbar Street
Mullumbimby, NSW 2482
+61 (0)423 403 449
No comments:
Post a Comment