Row rect Shape Decorative svg added to bottom 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 Backing bold growth in Ghana Across Ghana’s manufacturing and consumer goods landscape, the need to scale efficiently, strengthen local production and remain competitive continues to grow. Read more DEALS Powering South Africa’s energy transition through scalable infrastructure solutions Absa Corporate and Investment Banking partnered with Mulilo Energy Holdings on the financing of the 77MW / 308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, acting as Joint Mandated Lead Arranger, Senior Lender, Hedge Provider and Agent Bank. Read more DEALS Empowering sustainable growth, one phase at a time. We successfully supported the syndication of a USD700 million facility for the Ivanplats Phase 2 expansion – one of the country’s largest new mining projects in more than a decade. Read more
