RE: Moving29 Oct 2024 11:30
Doesn't make sense to pull the plug
The British mining company Emmerson has appointed a syndicate of international and Moroccan banks to fund its mining operations in Khemisset, a town in northern Morocco.
According to converging reports, discussions between Emmerson and the banks indicate that the company will secure $310 million.
The syndicate of banks includes ING Bank, Morocco’s Banque Centrale Populaire, Bank of Africa, and another international European Bank, reports indicate.
Reports further suggest that the funding will be split between multiple stakeholders, with the UK Export Finance providing $230 million, while the remaining $80 million will be obtained through different financing instruments.
Emmerson’s Chief Executive, Graham Clarke said: “We are delighted to have received strong demand for the project financing from both lenders and ECAs.