https://www.miningweekly.com
Copper|Infrastructure|Mining|PROJECT|Resources|Infrastructure
Copper|Infrastructure|Mining|PROJECT|Resources|Infrastructure
copper|infrastructure|mining|project|resources|infrastructure

Solaris arranges $80m funding package for Ecuador project

12th December 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Toronto-listed Solaris Resources has arranged a financing package of $80-million for the advancement of the Warintza project, in Ecuador.

The company entered into definitive agreements with Orion Mine Finance Management for the package, which comprises a $60-million senior secured debt facility, an offtake with a buyback provision, a subscription for $10-million in equity and a commitment for $10-million in additional equity financing.

“This financing package funds the advancement of Warintza through studies and permitting, leading to a substantially de-risked project. This is a very special asset that has the potential to create tremendous long-term value for all stakeholders as it unlocks one of the last remaining major greenfield copper districts at low elevation and adjacent to infrastructure in the entire mining industry,” commented executive chairperson Richard Warke.

Orion and Solaris have entered into an offtake for Orion to purchase 20% of metals produced from the project for 20 years from the start of production.

Edited by Creamer Media Reporter

Comments

Latest News

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.115 0.155s - 114pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: