Intl Mining & Infras IMIC US$50 Million Bond Instrument

  Intl Mining & Infras (IMIC) - US$50 Million Bond Instrument

RNS Number : 3739P
Intl Mining & Infrast Corp PLC
24 October 2012

For immediate release 24 October 2012



                          ("IMIC" or "the Company")


                  Execution of US$50 million Bond Instrument


              Initial US$10 million to be drawn down immediately

International Mining & Infrastructure Corporation plc(AIM: IMIC), the company
working to develop infrastructure solutions for the iron ore sector in Africa,
through engagement with  African governments,  a consortium of  best of  breed 
Chinese infrastructure providers  and locally operating  mining companies,  is 
pleased to announce that it has executed a multi-tranche, unsecured bond  with 
a drawable value  of up to  US$50 million.  An initial US$10  million will  be 
drawn down immediately.

The bond instrument, which is being issued to institutional investors, carries
semi-annual interest of  8.125 per  cent per  annum and  is due  to mature  in 
October 2014.

The initial draw down of US$10 million will be used to further support  IMIC's 
strategy, particularly  in  connection with  the  agreement with  the  Guinean 
government for an infrastructure solution at the major Simandou South iron ore
project in  the Republic  of Guinea  and in  making strategic  investments  in 
junior iron ore miners.

Haresh Kanabar, IMIC's Chairman, said: "We're  delighted to have raised up  to 
US$50 million  in the  bond issue,  which  endorses our  plans to  unlock  the 
potential of iron ore in West and Central Africa. This funding is non-dilutive
and complements the placing announced in June in which we raised £10  million. 
With significant  funding in  place,  we look  forward to  delivering  further 
progress on our strategy."

For further information, please contact:

International Mining and Infrastructure Corporation plc
Haresh Kanabar, Chairman                                +44 (0) 20 7290 3340

James Ward, Finance Director

David Navas, Investor Relations
WH Ireland Limited                            
Mike Coe / Marc Davies                                  +44 (0) 117 945 3470

Mark Court / Fiona Henson / Sophie Cowles               +44 (0) 20 7466 5000

About IMIC

International Mining  Infrastructure Corporation  plc (IMIC),  in  conjunction 
with its privately held  strategic partner African Iron  Ore Group (AIOG),  is 
working to unlock value in the metals and mining industry in West and  Central 
Africa by providing infrastructure solutions, for railways, deep-water  ports, 
power and/or iron  ore beneficiation,  that will allow  the region's  emerging 
iron ore projects to develop into globally significant export operations.

IMIC and AIOG are ideally positioned to partner African host countries in  the 
delivery of infrastructure arrangements, and  to assist with initiatives  that 
best address the long-term aspirations of their governments and people.

China, as consumer of  70% of the  world's seaborne iron ore,  is key to  this 
opportunity. A best of  breed alliance of  Chinese construction and  equipment 
groups and iron ore off-takers has been carefully assembled to provide funding
and delivery of projects and onward sale of iron ore.

IMIC's first  infrastructure project  is  the major  Simandou South  iron  ore 
project in  the Republic  of Guinea,  where  there is  an agreement  with  the 
Guinean government  to  deliver  a  multi-purpose,  multi-user  infrastructure 
solution which ultimately could become the backbone of the country's transport

IMIC also  takes strategic  stakes  in junior  miners  with the  intention  of 
benefiting from  the  uplift  in  value once  an  infrastructure  solution  is 
initiated. IMIC 's  first strategic  investment was  the purchase  of a  3.9% 
stake in Afferro Mining Inc, whose  most advanced asset, Nkout, and its  other 
projects are located in Cameroon.

IMIC shares are  traded on the  London Stock Exchange's  AIM market under  the 
ticker symbol IMIC.

                     This information is provided by RNS
           The company news service from the London Stock Exchange


MSCEAPEDASAAFFF -0- Oct/24/2012 06:00 GMT
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