Coris Bank Boosts Hummingbird Resources with $25mln for Yanfolila Gold Mine
Monday, 19 August 2024 17:49
Coris Bank continues to be a major financial partner for West Africa's gold mining sector, having previously supported the construction of the Kiaka and Kouroussa gold mines in Guinea. The bank has now renewed its support for Hummingbird Resources, which owns the Yanfolila gold mine in Mali.
Hummingbird Resources announced today it has received an additional $25 million from Coris Bank. This new financing arrangement has a term of 24 months and an annual interest rate of 12%.
Dan Betts, CEO of Hummingbird Resources, described the refinancing as a significant step in enhancing the company’s financial resilience. He also expressed appreciation for Coris Bank's ongoing support and constructive relationship, which has been crucial in overcoming recent challenges and fostering Hummingbird’s growth.
Coris Bank remains one of the leading financial partners for gold mines in West Africa. Earlier this year, the bank, led by Idrissa Nassa, was involved in fundraising for the Kiaka gold mine and the expansion of the Bomboré gold mine in Burkina Faso.
Live News
-
Egypt turns to UK to scale digital investment and regional hub ambitions
08:27
-
PIDG invests $3.3mln to expand waste-to-energy plant in Kenya
08:26
-
Gabon looks to potash, after iron, to diversify mining revenues
08:12
-
DRC outlines $28.9bn MIFOR iron ore plan, with major unanswered questions
08:06
-
European consortium leads bid to build Kribi bitumen plant
05:16
-
Sambiani Yobe Takes Over As Head Of Togo Bar Association
05:14
-
Nathanael Yao Builds E-Commerce Platform for Abidjan’s Local Merchants
19:11
-
WattWallet Expands Digital Access to Prepaid Electricity in South Africa
19:06
-
Uganda: Essymart Digitizes Smallholder Farming
18:57
-
Okugo Uche Ayodele Bets on Remote Inspections to Cut Insurance Fraud
18:48
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...
African startups raised about $3.1 billion in 2025, up from $2.2 billion in 2024, accord...
Talks focus on ICT investment, offshoring, and advanced technologies. Cooperation could expand into cloud computing, data centers, and fintech. Egypt...
PIDG backs Sanivation’s Naivasha facility through equity and technical support. Expansion will boost waste treatment and fuel briquette production by...
Final feasibility study targets 800,000 tons a year of muriate of potash. Banio hosts more than 6 billion tons of potash resources, according to...
The DRC presented the MIFOR project with an initial investment of $28.9 billion. Officials cite 15 to 20 billion tons of resources and output...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...