Includes commitment to introduce and assist with potential financing options
SAGUENAY, QUEBEC – (April 11, 2017) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is pleased to announce the signing of a memorandum of understanding (“MOU”) agreement with FLSmidth to provide all production equipment and engineering for the future plant, in collaboration with the various key suppliers involved in the Lac-à-Paul project development.
“Over the last few months, Arianne has been focusing its actions on bringing together industry leaders and experts to successfully undertake the Lac-à-Paul project, “ said Jean-Sébastien David, Arianne’s COO. “These partnerships help to improve and optimize the project as a whole. The signing of this agreement with FLSmidth, a recognized global leader that provides products and services to the global mining industry, brings us another step toward its realization.”
As with other recent agreements, partners selected come with both strong technical ability as well as the ability to assist Arianne in sourcing the necessary financing solutions. To this end, FLSmidth has introduced Arianne’s Lac a Paul project to the official Danish Export Credit Agency Eksport Kredit Fonden (EKF), an agency that has been in place since 1922, supporting commercial agreements by assisting with credit arrangements.
“The process of bringing Lac a Paul into development and unlocking the enormous economic value for our shareholders and stakeholders continues to move forward,” said Brian Ostroff the CEO of Arianne Phosphate. “This is not just Arianne alone anymore and, when taken in conjunction with other recent announcements that have involved major global players, one can see the interest by many in getting this project done. Rio Tinto, Hydro Quebec, Constructions Proco, ABB, SNC Lavalin, Cegertec and now FLSmidth have all signed agreements and momentum is clearly in place. Lastly, with the assistance of some of these groups to help us source workable financing solutions, the questions around our financing strategy have gone a long way towards being answered.”
“FLSmidth is a leader in phosphate processing technologies covering the full flowsheet. This is one of the largest phosphate greenfield projects in the world; we look forward to providing our expertise in equipment and processes to ensure optimal productivity with the lowest total cost of ownership,” says Group Executive Vice President for FLSmidth’s Minerals Division, Manfred Schaffer.
FLSmidth is the market-leading supplier of productivity to the global mining and cement industries. Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries, FLSmidth delivers engineering, equipment and service solutions to customers worldwide. Productivity, sustainability, and quality are focus areas for the 12,000 employees in FLSmidth. The company generated revenue of DKK 18 billion in 2016. Read more on www.flsmidth.com.