BlackRock Metals pockets C$40m mine financing by Orion

Private Quebec-focused speciality metals project developer BlackRock Metals has secured C$40-million in equity financing led by Orion Mine Finance Group. The company, which intends to produce low-cost ferrovanadium, high-purity merchant pig iron (MPI) and titanium feedstocks for the US and European markets, will use the proceeds to complete technical designs, permitting, the placement of equipment orders, acceleration of early construction work and general working capital requirements for its Chibougamau-based BlackRock project.