GHANA Bauxite Company Limited (GBC) has signed a financing mandate with Ecobank Ghana PLC for proposed facilities of up to US$250 million to expand and modernise its mining operations at Awaso.
The move is expected to strengthen the company’s production capacity and support Ghana’s ambition to process more of its bauxite locally.
Under the agreement, Ecobank Ghana has been appointed the exclusive mandated arranger responsible for structuring the proposed financing and coordinating the participation of prospective banks and other financial institutions.
The facilities are intended to support GBC’s capital expenditure on mine expansion and meet its working capital requirements as the company builds on recent production growth and prepares for the next phase of its operations. Read More.
BY KINGSLEY ASARE
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