Ghanaian Mining Company Secures $205 Million Investment To Expand Mining Operations [Yahoo! Finance]
STANDARD BANK GRP SP/ADR (SGBLY)
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Source: Yahoo! Finance
The deal marks one of the largest financing agreements ever secured by a locally owned mining company in Ghana. The five-year credit facility includes two tranches, $110 million and $95 million. The funding will primarily support E&P's ongoing contract-mining work for Gold Fields Ghana Limited. Ecobank Ghana PLC and Absa Bank Ghana LTD also served as key lending partners i n the transaction. The financing will allow E&P to expand hard-rock extraction and scale its equipment to meet global mining standards. “Our relationship with E&P spans more than two decades, built on trust and shared ambition,” Stanbic Bank Ghana Chief Executive Kwamina Asomaning said in a statement obtained by Business Insider Africa. “By structuring and mobilizing the USD205 million facility, we are not only enabling Engineers & Planners to scale its operations but also reinforcing Stanbic Bank's role as a long-term partner in advancing localisation, strengthening Ghana's mining value chain, and driving su
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