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11 Jan 2017, Roberto Herranz, EMIS Editor

Canadian Contin-ental Gold secures $250 mn in financing for Buriticá gold mine project

Canadian mining firm Continental Gold Inc. has secured $250 million in financing for its Buriticá gold mine project in Colombia through a secured debt facility with Australian Red Kite’s RK Mine Finance, local daily Finance Colombia reported.

The credit agreement provides immediate access to $100 million due to the “satisfaction of certain customary conditions”, and it will be primarily used for project development, construction, and working capital, Finance Colombia highlighted.

Citing a press statement issued by the Canadian company, Finance Colombia also remarked that some $30 million can be destined to equipment financing.

Located in Antioquia department (north-western Colombia) and next to Cauca river, Buriticá gold mine is expected to produce up to 4.7Moz of recovered gold in the next 18 years, according to Continental Gold’s website.

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