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Article: Zimbabwe: US$10m boost for Freda Rebec.
- Article from:
- TendersInfo
- Article date:
- November 7, 2009
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Byline: shiv03
THE Industrial Development Corporation of South Africa has approved the provision of up to US$10 million debt funding for the Freda Rebecca gold mine in Zimbabwe.
Freda s parent company Mwana Africa Plc announced yesterday that the provision of the loan facility is expected to accelerate the implementation of the mine s refurbishment programme.
The refurbishment is expected to result in an increase in production in excess of 50 000 ounces of gold per year on the completion of Phase II.
Mwana said funding will be made available in two tranches with the first one of up to US$4 million, funding the remaining working capital ...