Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Maritime Canada-focused direct shipping iron-ore project developer Alderon Iron Ore on Tuesday slammed the brakes on its flagship Kami project, implementing a comprehensive cash preservation programme that would allow the company to maintain a healthy working capital position into 2017 without the need to access equity or debt financing, aside from the financing required to start project construction. The program included workforce reductions, payment deferrals and relief from debt-servicing requirements.
Maritime Canada-focused direct shipping iron-ore project developer Alderon Iron Ore on Tuesday slammed the brakes on its flagship Kami project, implementing a comprehensive cash preservation programme that would allow the company to maintain a healthy working capital position into 2017 without the need to access equity or debt financing, aside from the financing required to start project construction. The program included workforce reductions, payment deferrals and relief from debt-servicing requirements.
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