Aurora Gold Project now fully funded
Canadian mining company, Guyana Goldfields Limited had secured a US$185 million loan to finance the construction of its large-scale mining project, the Aurora gold mine on the Cuyuni River and the project is now fully funded.
The lenders include the private sector arm of the World Bank: the International Finance Corporation (IFC) as well as Export Development Canada, ING Capital LLC, Caterpillar Financial Services Corporation, and the Bank of Nova Scotia. The loan which will fund the development and construction of the Aurora Gold Project, will be disbursed in two tranches.
Tranche 1 covers US$160 million and the second tranche entails a cost-overrun facility of US$25 million, the company said in a statement. Both tranches were …..To continue reading, login or subscribe now.