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Orezone Closes XOF 35.0 billion Term Loan with Coris Bank International for Phase II Hard Rock Expansion
Dec 23, 2024•over 1 year ago
Contract Type
contract
VancouverMiningMineralMining Technology
Description
Orezone Gold Corporation has closed a Phase II Term Loan with Coris Bank International for a principal amount of XOF 35.0 billion (~US$58 million) with a term of three years. The loan will finance the Phase II Hard Rock Expansion at the Bomboré Mine, aiming for first gold production in Q4-2025. The company also repaid a US$20 million bridge loan drawn in May 2024.
Company Information
Company
Orezone Gold Corporation
Location
Vancouver, British Columbia, Canada
About
Orezone Gold Corporation is a Canadian mining company operating the open pit Bomboré Gold Mine in Burkina Faso. The company is focused on mining and processing the Phase I near surface free-dig oxides at a throughput of 5.9 million tonnes per annum (Mtpa), with planned Phase II Expansion to deliver a significant increase in annual gold production at a low incremental capital cost. Orezone is led by an experienced team focused on social responsibility and sustainability.
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VancouverMiningMineralMining Technology