News
17 December 2019
Kinross signs $300m loan for Tasiast gold mine
In:
Mining
Region:
Middle East & Africa, Americas
Canada's Kinross Gold has announced that its wholly-owned subsidiary, Tasiast Mauritanie, has signed a loan deal for up to $300 million for its Tasiast operation in Mauritania with the International Finance Corporation and Export Development Canada. ING Bank and Société Générale also participated in the loan.
The eight-year loan, which is non-recourse to Kinross, matures in December 2027 and has a floating interest rate of LIBOR plus 4.38%. The initial drawdown under the loan agreement is expected in early 2020.
