From the August RNS2 Dec 2020 23:17
The execution of the Mandate is a key milestone in the project financing process for the development of Araguaia. BNPP, ING, Mizuho, Natixis and Société Générale have extensive experience in providing project financing to greenfield mining projects and were chosen as Mandated Lead Arrangers due to their extensive Latin American project finance experience and the strength of their mining teams.
Closing of the Facility, targeted for end of the calendar year 2020, remains subject to completion of due diligence in form and substance satisfactory to the MLAs, final credit approvals and execution of definitive Facility documentation.
I presume it is a case of working through all the administrative procedures. I presume if it overran more than a month, the company would update us with an RNS providing a new timeline for completion.