Africa Eagle Resources is set to receive USD 5.5 million from the International Finance Corporation. The money will be used for a bankable feasibility study at the Dutwa Nickel Project in Tanzania. According to Tom Butler, the IFC head of mining, the fund will be made available at the end of January 2012; the project is scheduled for completion at the end of 2012. Butler explained that the USD 5.5 million capital injection will primary finance the evaluation of the company’s Dutwa Oxide project, a mining venture in Tanzania hence boost African Eagle Resources. He also said: “IFC is happy to have signed an equity agreement with Africa Eagle Resources to support the company’s Dutwa project in Tanzania which has a potential to become a major Africa nickel producer. We look forward to helping and supporting African Eagle Resources to implement the environment and social best practice for its mining activities in Tanzania.”