Perth-based mining firm Mirabela Nickel Ltd (ASX: MBN) said on Wednesday that it is set to raise about $US152 million or $A167.08 million to fund its debt repayment dues and growth plans, with some allocations for the company's operational expenditures.

The company said that it would raise some $US135 million or $A148.4 million through institutional share placement, another $US7 million or $A7.69 million through specific directors' share placement and additional $US10 million or $A10.99 million through share purchase plan.

Mirabela said that a big chunk of the raised capital would be utilised to pre-pay a fractions of its finance facility of about $US190 million or $A208.86 million due by 2011, with the remaining to be earmarked for operations and the company's future growth plans.

The company said that the planned expansion of its Santa Rita plant is poised to receive up to $US40 million or $A43.97 million that would be used to upgrade its production to more than seven megatonnes per annum, with further projections of up to 25,000 tonnes per annum of nickel concentrates.

Mirabela said that the Australian version of the capital raising would cover unconditional placement of ordinary shares and placement of shares that would require the go signal of shareholders while the Canadian offer would consist placement of ordinary shares and subscription receipts, each count giving the holder one ordinary share.

The company said that its global offer size and price would be announced once its global bookbuild has been completed, which then would be followed by Mirabela's offerings of non-underwritten share purchase plan (SPP) to qualified shareholders in Australia and New Zealand with a tag price of $4995.

Mirabela said that it is anticipating a total of $US10 million or $A10.99 from the SPP initiative as it added that the synchronised Australian and Canadian offer were scheduled to be wrapped up on September 17.

The company has earlier entered trading halt on Tuesday, closing at $1.84, and would remain so until September 9 while its unconditional placement ordinary shares would formally hit the boards of the stock exchange on September 20.