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gold|technology

Aya secures $100m debt for Morocco silver expansion

26th October 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Canada-based Aya Gold & Silver has secured $100-million in debt financing to support the expansion of the Zgounder silver mine, in Morocco.

The European Bank for Reconstruction and Development will provide a senior debt facility of $92-million, while the Climate Investment Funds, through its Clean Technology Fund, is providing an $8-million tranche.

Aya is looking to expand Zgounder and in February delivered a 2 700 t/d expansion feasibility study, which will quadruple production to 6.8-million ounces of silver.

Located in the central Anti-Atlas mountains, Zgounder is the second-most important silver mine in Morocco after the Imiter mine. Commercial production was reached in January 2019.

 

 

Edited by Creamer Media Reporter

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