PERTH (miningweekly.com) – Copper/gold miner Sandfire Resources has amended the repayment schedule for its DeGrussa project finance facility with financier ANZ Banking Corporation.
Following a A$5-million repayment at the end of March this year, the current balance of the DeGrussa project facility would reduce to A$125-million, with a further A$5-million payment due by the end of June.
The balance of the facility would be payable by the end of December this year.
Meanwhile, Sandfire has also started a process to restructure its existing finance facility, with the miner saying that this restructure was expected to provide more balanced debt repayments that would better align with the recently extended mine plan at DeGrussa, improve access to cash flows and to support Sandfire’s longer-term corporate objective.