· Aya Gold & Silver has secured $100 million in debt financing to expand its operations in the Zgounder Silver Mine, in Morocco. The Zgounder mine is the second-largest silver mine in Morocco.
Aya Gold & Silver has secured $100 million in debt financing to expand its operations in the Zgounder Silver Mine, in Morocco. The Zgounder mine is the second-largest mine in Morocco.
The Canadian company Aya Gold and Silver reported that its Moroccan subsidiary, Zgounder Millennium Silver Mining SA, secured a $100 million debt financing package through a joint deal with two European financing institutions. The two European financing institutions are the European Bank for Reconstruction and Development (EBRD) which would deliver $92 million in the form of a Senior Debt Facility, and the Climate Investment Funds which would provide $8 million.
Elaborating on the company’s expansion plans, Aya Gold’s President & CEO Benoit La Salle said that Morocco will benefit from the expansion plan in terms of additional investment, local jobs and procurement, and several social and environmental initiatives. Currently, the Canadian mining company manages six precious metal mining operations in Morocco.
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