- Trevali (TV) has secured a US$110M senior debt facility to expand its Rosh Pinah Mine in Namibia
- The company received credit approval from Standard Bank of Namibia and The Standard Bank of South Africa
- The expansion seeks to increase mill throughput by 86 per cent from 0.7 Mtpa to 1.3 Mtpa at the zinc and lead mine
- Trevali is a global base-metals mining company
- Trevali Mining (TV) is up by 5.81 per cent trading at $0.455 per share
Trevali (TV) has secured a US$110M senior debt facility to expand its Rosh Pinah Mine in Namibia.
The goal of the expansion is to increase mill throughput by 86 per cent from 0.7 Mtpa to 1.3 Mtpa at the zinc and lead mine.
The company received credit approval from Standard Bank of Namibia and The Standard Bank of South Africa.
The news follows completion of legal and technical due diligence at Rosh Pinah.
Endeavour Financial is acting as advisor on the debt financing.
The financing is subject to the negotiation of a definitive loan facility agreement and the consent of and release of security by Trevali’s existing senior secured lenders.
The company is pursuing an export credit agency-backed equipment finance facility which may increase the senior secured financing facility by up to US$20M.
“The expansion at Rosh Pinah is the primary focus for Trevali in the coming years and we look forward to working with Standard Bank as a supportive lender that has intimate knowledge about the Rosh Pinah Mine, the expansion plan, and long-term operating success that has been achieved since mining began in 1969,” stated Ricus Grimbeek, Trevali’s President and CEO.
Trevali is a global base-metals mining company focused primarily on zinc and lead concentrate production.
Trevali Mining (TV) is up by 5.81 per cent trading at $0.455 per share as of 10:10 am EST.