Caledonia inks two more indigenisation deals for Blanket

TSX- and Aim-listed Caledonia Mining said two further agreements have been signed in respect of the transfer of 20% of its Blanket mine, in Zimbabwe, to two indigenous Zimbabwean trusts. The company said that the agreements had been made in...

Kwale mineral sands project, Kenya

Base Resources has executed the $170-million debt facility agreement for the Kwale project.

Base locks in $170m for Kwale

Mineral sands developer Base Resources has executed the $170-million debt facility agreement for its Kwale project, in Kenya. Base said on Wednesday that along with the recently completed equity capital raising, the debt facility would provide...

$170m secured for Kenya mineral sands project −Base

ASX-listed mineral sands developer Base Resources has secured $170-million in syndicated project finance to develop its Kwale mine, in Kenya. The debt finance facility would form part of the overall funding package for the development of Kwale,...

Gold Fields secures new loan

South African miner Gold Fields has secured a five-year $1-billion revolving credit facility, which will replace a $450-million, three-year facility, which matures in September next year. CFO Paul Schmidt said that the new loan had a lower...

Gold One gets credit approval for $65m loan

South Africa-focused Gold One on Thursday received credit approval for a $65-million loan facility from two international banks to meet its existing convertible bonds obligations. The company said in a statement that a debt facility was the most...

Great Basin Gold executes $47m loan facility

Gold junior Great Basin Gold has executed the formal documents for a $47-million export finance facility, with Credit Suisse as the primary lender. The funds are available and can be drawn as required, the company said on Friday.

Lundin restructures credit facility

Canadian base-metals miner Lundin Mining has executed an amendment to its credit agreement, which has been restructured to a three-year, fully-revolving line of credit of $225-million. The company has been in negotiations with lenders to revise...

Quadra closes $37,5m project financing for Chile mine

Vancouver-based Quadra Mining has met all the requirements for a $37,5-million syndicated project loan facility, to complete its Franke copper project in Chile, and has drawn down the full $30-million term loan component of the facility. The...

Hecla reschedules debt repayment, but at increased rate

Precious-metals miner Hecla Mining reached an agreement with its bank syndicate to move a principal repayment of $18,3-million, due on December 31, to February 13. However, the amended loan agreement changed the interest rate on the term loan,...

IFC excercises option on further $20m worth of Lonmin shares

The International Finance Corporation (IFC), the private-sector arm of the World Bank, will exercise the second tranche of its option to invest in new Lonmin shares with an investment of $20-million.

De Beers sales rise to $5,15bln

Diamond giant De Beers reported yesterday an almost 16% jump in rough stone sales to $5,15-billion in 2002, topping forecasts in spite of shaky world economies.