DEALS Facilitating Growth in Africa’s Mining Sector Absa | Corporate and Investment Banking > Insights and Events > Facilitating Growth in Africa’s Mining Sector SHARE We are thrilled to announce that we have successfully facilitated the closure of a remarkable USD155m financing for QKR Namibia Navachab Gold Mine (Pty) Ltd in Karibib, Namibia. Absa acted as a joint MLA and hedge provider; our team is proud to have played a pivotal role in enabling this transaction. The Navachab Gold Mine, is an open-pit gold mine situated near Karibib, in the Erongo region of Namibia. The mine commenced operations in 1985 and employs over 1,200 staff with a peak production volume of 140koz. The USD155m term loan will enable Navachab Gold Mine to refinance existing debt, facilitate a dividend distribution and allows the client to scale up production via an expansion, particularly in their processing activities. The transaction demonstrates our commitment to a strategic sector in the Namibian economy. Contact Thulani Shange for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Empowering African Aviation to Soar Higher Absa Corporate Investment Banking enables strategic fleet reintegration and regional expansion for AELF and SAA with a USD 31 million aircraft refinancing solution. Read more DEALS Energising Progress with Africa’s Largest Standalone Battery Facility We are proud to have played a pivotal role in one of Africa’s most significant energy milestones: the Red Sands Battery Energy Storage Project which is set to become the continent’s largest standalone battery energy storage facility to date to move towards construction. Read more DEALS Supporting expansion in SA’s healthcare property market Absa CIB partners with Growthpoint Healthcare Property Holdings on a R950 million facility to finance healthcare infrastructure. Read more
