London Mining (LON:LOND) said it now has access to a US$60 million two-year revolving credit facility, after it concluded its discussion with the Standard Chartered Bank.
Previously in August's quarterly report the company told investors it had agreed a term sheet for the financing.
The credit facility is available for general corporate purposes, and draw-downs under the facility will be secured against certain shares and assets of the group.
The UK-based company develops mines to supply the steel industry.
London Mining is developing four iron ore mines, Marampa in Sierra Leone, Wadi Sawawin in Saudi Arabia, Isua in Greenland and one in China through a 50 percent stake in a JV, as well as a coking coal operation in Colombia.
All London Mining's assets have deliverable production with potential for expansion.