Boosting local bauxite processing: GBC, Ecobank sign $250m landmark deal
GHANA Bauxite Company Limited (GBC) has signed a financing mandate with Ecobank Ghana PLC for proposed facilities of up to US$250 million to expand and modernise its mining operations at Awaso. The move is expected to strengthen the company’s production capacity and support Ghana’s ambition to process more of its bauxite locally. Under the agreement, … The post Boosting local bauxite processing:…
GHANA Bauxite Company Limited (GBC) has embarked on a landmark agreement with Ecobank Ghana PLC to finance the expansion and modernization of its mining operations at Awaso. This deal, valued at up to US$250 million, is set to bolster GBC's production capacity and assist Ghana in achieving its goal of processing a greater percentage of its bauxite locally.
Ecobank Ghana has been designated as the exclusive mandated arranger, tasked with the structuring of the financing and coordination of participation from prospective banks and financial institutions. The funds will primarily be utilized for capital expenditures on mine expansion and to meet the company's working capital needs as it capitalizes on its recent production growth and readies itself for the subsequent stage of its operations.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
