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DEALS

Facilitating Growth in
Africa’s Mining Sector

Absa | Corporate and Investment Banking > Insights and Events > Facilitating Growth in Africa’s Mining Sector
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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

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