Motheo inches closer to funds :: Mmegi Online

Sandfire Resources’ contracting partner at the Motheo Copper Mine, African Mining Services (AMS), has completed the selection of syndicate international banks for a $160 million debt facility as the finalisation of terms advances well, Business Monitor has established.

Sandfire intends to fund the development of the Motheo Copper Mine through a combination of cash and project debt. Progress at the copper mine is ongoing with the first pre-strip material mined at the T3 Open Pit deposit in late March, approximately one week ahead of schedule against the project execution plan, with mining currently making excellent progress.

The company is also nearing completion of the feasibility study for the 5.2Mtpa expansion case at Motheo, which is due for completion in June. According to the mine, the entire infrastructure currently under construction at Motheo is being built to support this proposed expanded capacity, supporting Sandfire’s plans for Motheo to become the heart of a major new processing hub in the Kalahari Copper Belt.

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