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Taxpayer-backed NAIF pitches in for De Grey’s $1b Pilbara gold rush

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Taxpayer-backed NAIF pitches in for De Grey’s $1b Pilbara gold rush

The Federal Government’s Northern Australia Infrastructure Facility will lend $150 million to help bankroll a massive new Pilbara gold mine in an attempt to branch out a region dominated by iron ore.

The new loan brings aspiring gold miner De Grey Mining a step closer to locking in more than $1 billion worth of new debt to fund its flagship Hemi operation, which comes with a price tag of about $1.3 billion and will need 1700 workers to build and run.

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#Taxpayerbacked #NAIF #pitches #Greys #Pilbara #gold #rush

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