Ironbark Secures Funding for Zinc Mine in Northeastern Greenland

Published at: Dec 15 2021 - 10:46 / Updated at: Dec 15 2021 - 10:46

The US investment bank US Exim (Export-Import Bank of the United States) is interested in investing in Ironbark’s zinc mine in Northeastern Greenland and has issued a conditional project letter granting a conditional loan of up to USD 657 million, according to Sermitsiaq.

The amount consists of two parts; one for American costs and one for local costs (in Greenland). The former amounts to USD 485 million, whereas the latter constitutes USD 171 million.

The loan letter is not yet binding, however, if Ironbark and the project meet a series of conditions that are to be examined over the coming months, the entire project can be funded by US Exim.