JOHANNESBURG (miningweekly.com) – Financial services provider Nedbank has concluded a five year, R1,5-billion revolving credit facility for South African gold producer Gold Fields.

Nedbank stated that the funding would be used to refinance existing debt and for general corporate purposes.

The joint-head of mining & resources at Nedbank Capital, Brad Maxwell, said that the ability to lend in this “difficult and uncertain” market was a good indication that Nedbank was open for business despite what has occurred in the international banking crisis.

Gold Fields is one of the world’s major gold producers with operations in South Africa, Australia, Ghana and Peru. The company has a market capitalisation of about R70-billion.

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