First Quantum raises $1bn to fund Kansanshi

Vancouver-based First Quantum Minerals said on Monday it raised $1-billion in debt through five-year term and revolving facilities with a group of banks. The TSX- and LSE-listed company said it would use the money to fund an expansion at its...

Mining Indaba Schedule

Company Announcement: G-Resources Signs standby credit Agreement with its three banks

G-Resources Group Limited announced on Monday that it has signed a US$100m Revolving Credit Facility Agreement with three banks – BNP Paribas, Hang Seng Bank and Sumitomo Mitsui Bank.

Formation Metals credit facility terminated

Shares in TSX-quoted Formation Metals gave back nearly 13% on Thursday, after the company said its previously announced $80-million financing had fallen through. French bank BNP Paribas, which on the same day said third-quarter profit plunged...

Company Announcement: G-Resources Reports Solid Third Quarter Progress

G-Resources Group Limited announced today that it has made significant headway in all key areas of its Martabe gold and silver project and is on schedule to produce first gold by the end of the first quarter 2012.

Company Announcement: EFIC supports Leighton’s expanding capacity at Mongolian mine

Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, has provided a US$81.7 million loan to facilitate the lease of mobile mining fleet and equipment by Leighton Asia, for use in its contract mining...

Gecamines could sell assets to fund overhaul

Democratic Republic of Congo's State-owned mining company Gecamines could put non-strategic assets on the block to help it fund a $930-million drive to become a major producer, the company said on Saturday, though it does not have plans for a...

Ivanhoe starts prestripping at huge Mongolian mine

Ivanhoe Mines, run by billionaire Robert Friedland, started pre-stripping this month at its giant Oyu Tolgoi’s phase-one open pit mine, the company said on Monday. It also said it made a $0.6-million profit in the June quarter, compared with a...

Lonmin unveils new bank facilities worth $1bn

Platinum miner Lonmin has replaced its existing $875-million bank debt with new facilities totalling $1-billion, which would lower its cost of funding, and improve the maturity profile of its debt, CFO Simon Scott said on Wednesday. A...

BNP Paribas to advise on project finance for BC copper/gold project

KGHM Ajax Mining, a joint venture between Poland's KGHM Polska and Canadian junior Abacas Mining & Exploration, has engaged BNP Paribas as exclusive financial advisor on project financing for their Ajax copper/gold project, near Kamloops in...

European Goldfields signs mandate for $300m loan facility

TSX- and Aim-listed European Goldfields has signed a mandate letter with a group of financial institutions to arrange a $300-million secured term and revolving facility, the firm said on Thursday. The funds will be used to build the company's...

Gold One bondholders elect not to redeem bonds for cash

ASX- and JSE-listed junior miner Gold One said on Monday that none of its convertible bondholders had exercised their one-off put option to redeem their bonds for cash. This meant that Gold One longer required the credit approved $65-million debt...