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The Ta Khoa Project in Vietnam. Source: Blackstone Minerals
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  • Blackstone Minerals (BSX) appoints Korea Development Bank and BurnVoir Corporate Finance to secure funding for the Ta Khoa project in Vietnam
  • BSX is building an integrated battery metals business to produce nickel cobalt and manganese precursor products for Asia’s lithium-ion battery industry
  • The company says the independent advisors will ensure ongoing feasibility work is completed to the highest standard
  • The advisors also have strong relationships with potential customers of the Ta Khoa Downstream Refinery
  • Shares are trading 6.45 per cent higher at 49.5 cents at 12:45 pm AEST

Blackstone Minerals (BSX) has appointed two advisors to arrange debt financing for its Ta Khoa project in Vietnam.

The company has a 90 per cent interest in the nickel copper platinum group element project which is west of Hanoi and includes an existing modern nickel mine called Ban Phuc, which operated from 2013 to 2016.

The focus of BSX’s project is to build an integrated upstream and downstream battery metals processing business in Vietnam that produces nickel cobalt and manganese precursor products for the lithium-ion battery industry in Asia.

The Korea Development Bank (KDB) and BurnVoir Corporate Finance are set to act jointly and in collaboration with Blackstone to secure an “attractive” and “flexible” funding package for the development of the project.

KDB is a government-owned policy bank that provides financial support to its clients developing infrastructure projects.

Australian investment and advisory company BurnVoir is said to have experience in arranging finance across the energy, resources and infrastructure sectors.

Managing Director Scott Williamson said the collaboration with the independent advisors would ensure ongoing feasibility work was completed to the highest standard and withstood the rigour of independent due diligence.

Additionally, he commented that the two advisors had strengths across the lithium-ion batter chain which include strong relationships with potential customers of the Ta Khoa Downstream Refinery.

“Both KDB and BurnVoir have extensive experience in arranging development
funding for quality projects, and their involvement in the Ta Khoa Project is an endorsement of Blackstone’s strategy and ability to execute,” Mr Williamson said.

Shares were trading 6.45 per cent higher at 49.5 cents at 12:45 pm AEST.

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