London-listed Amur Minerals is investing, alongside Glencore International, in Nathan River Resources (NRR), which owns the Roper Bar iron-ore project, in Australia’s Northern Territory.
The company, which focuses on nickel/sulphide mineral exploration and resource development in Russia, said on Tuesday that it had raised £6.1-million (about $7.97-million) in a share placement of 1.75p each.
Amur would use $4.67-million of the proceeds to subscribe for secured convertible loan notes (CLNs) in NRR and the balance for its Kun-Manie project, in Russia.