Toronto’s Trigon Signs MoU for Investment from Shandong Xinhai

Trigon Metals Inc. (Trigon) has entered into a non-binding memorandum of understanding (MOU) with Shandong Xinhai Mining Technology & Equipment Inc. (Shandong Xinhai) in which the Chinese company has agreed to invest in Trigon, in exchange for the right to be appointed as the engineering, procurement, and construction contractor for the open-pit mining operations at Trigon’s Kombat project in northern Namibia. Xinhai has a proven record of successful implementation of large-scale projects in Africa. As per the MOU, Xinhai will invest up to 10 per cent of the capital requirements of the Kombat project and also assist Trigon in securing up to an additional 80 per cent of the capital requirements of the project through debt financing through Chinese export credit facilities. Trigon is a Toronto-based exploration and development company with focus on copper operations in Namibia.

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