29.8 C
Belgrade
Supported byspot_img
spot_img

Fusion Capital's Lynx Resources secure its Macedonia Sasa lead zinc mine dept facility

Member of Europium Groupspot_img
Supported byspot_img

Lynx Resources was established in 2015 by Fusion Capital, a Swiss based mining management team with significant experience from senior roles at the world’s largest zinc and lead producer, and the Orion Mine Finance Group, one of the world’s leading mining-focused private equity businesses with an active presence in Europe and who have approximately USD 1.8 billion under management.

Lynx Resources, the private mining group that owns and operates the SASA lead-zinc mine in Macedonia announced the closing of a USD 75 million debt facility. The facility has a term of seven years at an interest rate of LIBOR + 5%.

The SASA mine is one of the largest zinc, lead and silver mines in Europe, producing approximately 30,000 tonnes of lead, 22,000 tonnes of zinc and 400,000 ounces of silver in concentrates per annum.

Supported by

Proceeds of the debt facility will be used to refinance part of the acquisition costs from 2015, fund future growth prospects, as well as general corporate purposes.

Societe Generale Corporate & Investment Banking  and Investec Bank plc acted as Mandated Lead Arrangers and Hedging Co-ordinators. Ohridska Banka AD Skopje  participated in the Financing and has also committed to a EUR 5 million working capital facility. SG CIB was the Technical and Documentation Agent, and will act as the Facility and Security Agent for the Financing.

Chris James, CEO of Lynx Resources, commented, “We are pleased to announce this USD 75 million debt facility which allows Lynx to refinance part of the original acquisition costs as well as fund future growth prospects at the SASA mine in Macedonia.

SASA is one of Europe’s largest zinc, lead and silver mines and was the first acquisition by Lynx since its formation in 2015. SASA enjoys lowest quartile cash costs ensuring strong cash generation through the mining cycle and provides Lynx with an excellent initial platform to develop its strategy to become a leading base metals mining company.”

Lynx Resources Ltd was formed to acquire the SASA lead-zinc mine in Macedonia. The SASA mine is one of the largest zinc, lead and silver mines in Europe, producing approximately 30,000 tonnes of lead, 22,000 tonnes of zinc and 400,000 ounces of silver in concentrates per annum, and is supported by competitive first quartile cash costs and a long resource life.

Lynx Resources was established in 2015 by Fusion Capital, a Swiss based mining management team with significant experience from senior roles at the world’s largest zinc and lead producer, and the Orion Mine Finance Group, one of the world’s leading mining-focused private equity businesses with an active presence in Europe and who have approximately USD 1.8 billion under management.

Supported byElevatePR Digital

Related News

Coal India expands into graphite mining with new license

Coal India Limited (CIL) is diversifying its operations beyond coal for the first time by entering the graphite mining sector. The Ministry of Mines...

Latin America’s chance to redefine mining and drive the global energy transition

Latin America's tumultuous relationship with mining dates back to the conquistadors' plundering of gold and silver for the Spanish crown. Following independence, the arrival...

U.S. faces critical mineral supply challenges: Urgent policy reforms required for energy security

The global shift towards electrified economies is redefining energy security, as the demand for essential metals like lithium, graphite, copper and rare earth minerals...

Cornish Metals finalizes $4.5 million royalty sale to focus on South Crofty tin project in UK

Cornish Metals Inc., a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, UK, has...
Supported by
Supported by
Supported by
error: Content is protected !!