JOHANNESBURG (miningweekly.com) – ASX-listed Tiger Resources has completed the first drawdown of $133.2-million under a $162.5-million long-term finance facility with Taurus Mining Finance Fund and the International Finance Corporation.
A portion of the facility was used to refinance the previous secured debt facilities with Taurus and financier Gerald Metals SA, while the balance provided expansion capital for the debottlenecking initiative to increase the capacity of the Democratic Republic of Congo-based Kipoi mine’s solvent extraction and electrowinning plant to 32 500 t/y.
The first scheduled repayment of the debt would be due in January 2017.