Fingerboards project secures investment

Fingerboards project secures investment

Kalbar, the proponent of the Fingerboards mineral sands project at Glenaladale, has welcomed the announcement from Appian Capital Advisory LLP, a long-term value focused private equity fund that invests solely in mining and mining-related companies.

Appian has announced its investment in Kalbar – a $144 million commitment to take the Fingerboards Project, if approved, into construction and operation.

“The commitment by Appian and their track record of investment in sustainable mining projects around the world demonstrates the significance and value of our project to East Gippsland,” Kalbar chief executive officer, Jozsef Patarica, said.

“In the current environment, following drought, bushfires and COVID-19, Appian’s commitment to our project and the community is very welcome as it will provide jobs and economic development in East Gippsland.”

Kalbar is approaching a significant milestone for the Fingerboards project and hosted a live webinar last Thursday, in the lead up to the State Government announcing a date for public exhibition of the Environment Effects Statement to start.