The first stage of the Production Finance Package is valued at $100m, under which CCTEG will supply QDS attachments, mobile diesel equipment, roadheaders, shuttle cars, mobile bolters, and auxiliary fans for the Canadian project.
The equipnments are expected to help Atrum with the development of scale mine and subsequent mini walls.
Atrum operations vice president Ben Smith said: "This is a landmark agreement for the Company and significantly de-risks our funding requirements.
"Through this facility, we have the plant and equipment required to deliver the bulk sample mine, upgrade to a small scale mine and further ramp up and progress approximately 1.5Mtpa (ROM) production of the full scale mine."
"We have secured a strong partner in the world’s dominant supplier of specialist anthracite mining equipment, and a major supplier of high-quality specialist coal mining equipment. CCTEG is also leading research and development of new mining technologies and processes.
Atrum is also expects to receive its bulk sample mining licence at Groundhog North for the first 100,000 tonnes during first half of this year.
