The funding comprises of development capital of $120m and working capital facility of $20m.
Blackthorn estimates, however, reveal that total costs of project construction, capacity expansion, underground and open-cut development along with working capital could breach the $180m mark.
Expected to be commissioned by the end of February 2013, the first tranche of zinc concentrate ready for export in second quarter of the 2013 fiscal.
Further funding will be required by the company to facilitate working capital for the first phase of production scheduled to commence by March.
Glencore has reportedly submitted the initial capital and operating budget for the first production period and the same is to be finalized in February 2013.
