JOHANNESBURG (miningweekly.com) – Aim-listed Shanta Gold has completed a €2.1-million finance agreement with Sandvik Mining and Construction for the purchase of underground mobile equipment for its Tanzania-based New Luika gold mine.
The financing is repayable quarterly, in two tranches, over respective 36 month periods.
The equipment will arrive at the mine in stages, from this month.
“This is our second equipment financing with Sandvik over the last 15 months, which is an important pillar of our financing plan for the underground capital development programme at our flagship asset," Shanta CEO Toby Bradbury said on Thursday.