Financing Quebec’s first diamond mine
When Stornoway’s Renard diamond mine began production in July 2016, it made history — not only as the first diamond mine in Quebec, Canada, but also because of the unique way the project was financed. Stornoway’s financing package is unusual in that it is made up of a series of transactions designed to fully fund the mine from construction through to completion. One piece of that package was provided by Cat Financial, which has not only funded the equipment on site but also is a partner in the project financing. Cat dealer Hewitt Equipment Ltd. has worked with the mine from the beginning to provide end-to-end services, solutions and support.