Original disclosure @ EBRD website
Updated in EWS Nov 1, 2022
Disclosed by Bank Oct 25, 2022
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According to bank provided information, the investment involves the provision of up to USD 100 million senior loan to support expansion and upgrade of its Zgounder silver mine in Morocco, including (i) a new state of the art 2,000tpd processing plant; (ii) a new power line with a renewable energy power purchase agreement; (iii) new wastewater facilities; and (iv) expansion of the underground and open pit mine. The facility will have 6-year tenor. USD 92 million will be underwritten by EBRD of which USD 50 will be syndicated after signing and USD 8 million to be provided from the Clean Technology Fund.
The project will enable to support an independent mining company in Morocco in strengthening its competitiveness through gains in efficiency, skills, productivity and innovation.
The EBRD finance is the provision of up to USD 100 million senior loan in favour of Zgounder Millennium Silver Mine "ZMSM" located in the region of Agadir, of which (i) USD 92 million to be underwritten by the EBRD and further reduced by USD 50 million in the syndication process after signing (with the Bank's final hold of USD 42 million), and (ii) USD 8 million (provided from the Clean Technology Fund) The loan will be guaranteed by the Sponsor, Aya Gold & Silver Inc.
Zgounder Millennium Silver Mine S.A is a silver mine company owned at 85% by Aya Gold & Silver Inc., while 15% is owned by National Office of Hydrocarbons and Mines ("ONHYM"). Aya Gold & Silver Inc. is a Toronto Stock Exchange-listed Canadian company focused on operation, acquisition, exploration and development of silver and gold deposits.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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1320 Graham, suite 132 Ville Mont-Royal, QC H3P 3C8
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