July 24, 2017 4:49 PM ET

Metals and Mining

Company Overview of Karara Mining Ltd

Company Overview

Karara Mining Ltd. engages in the construction and operation of an open pit mine, a processing plant to produce magnetite concentrate, and associated infrastructure in the Mid West region. The company mines, processes, produces, and delivers high grade magnetite concentrate and direct shipping ore hematite. It also operates supporting infrastructure and logistics chain, which include a rail spur connecting the Karara project to the common-user rail system; a powerline from Eneabba to Karara, which connects the Karara site into power grid; a water pipeline supplying process water from a bore field near Mingenew to Karara; and the Karara export terminal at Geraldton. The company was incorporat...

Level 8

London House

216 St Georges Terrace Perth

Perth, WA 6000

Australia

Founded in 1995

Phone:

61 8 6298 1888

Fax:

61 8 6298 1099

Key Executives for Karara Mining Ltd

Chief Executive Officer and Director
Chief Financial Officer
General Counsel and Company Secretary
Compensation as of Fiscal Year 2017.

Karara Mining Ltd Key Developments

Karara Mining Extends Agreement with China Merchants Bank for $300 Million Fixed Term Loan Facility

Gindalbie Metals Ltd. announced that Karara Mining Limited has extended the Facility Agreement with China Merchants Bank (CMB) $300 million Fixed Term Loan Facility. The loan facility was due for repayment in April 2017 and has been extended for another 12 months to April 2018. The Deed of Amendment was executed on 12 April 2017. KML also executed a Tripartite Agreement (KML, CMB Anshan Branch and Anshan Iron and Steel Group Co Ltd) with regard to the bank guarantee charges related to the CMB loan extension on 12 April 2017. Gindalbie no longer has a contingent liability with respect to the shareholder guarantee provided by the company to Ansteel for this term loan.

Karara Mining Limited Announces Executive Changes

Gindalbie Metals Limited announced it has been informed by Ansteel, its Karara Mining joint venture (KML) partner (Ansteel 52%, Gindalbie 48%), that Mr. Dale Harris and Ansteel have agreed that now is an appropriate time to transition the leadership of KML to Ansteel Mining. As such Mr. Harris will leave KML and will be succeeded as CEO of KML by Mr. Zhang Zhao Yuan. Mr. Zhang is currently Chief Operating Officer of KML and has held a range of senior technical and operational leadership roles with Ansteel over his career. Gindalbie advises that Mr. Christopher Gerrard resigned as Company Secretary and General Counsel and has transferred to Karara Mining Limited as General Counsel and Company Secretary.

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Recent Private Companies Transactions

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