Zambia : BRM secures $5.2 mln to advance Kabwe project
Monday, 26 September 2016 17:30
BMR Group has signed a $5.2 million financing agreement with African Compass International, a South African group focused on mining exploration, energy and agro-industry, to develop its Kabwe project in Zambia.
The firm said it would inject $4.2 million in its Kabwe plant and $1 million to satisfy the consideration payable to exercise the option agreement with Bushbuck Resources for the acquisition of its Star Zinc large-scale prospecting licence 19653-HQ-LPL in Zambia.
BMR also said it will pay back the interest-free loan which involves an arrangement fee of $100,000, within 12 months of the final stage (the commissioning of the Kwabe project), which should take place in 2017.
BRM plans to mine Zinc and lead at Kwabe, from mine tailings.
Louis-Nino Kansoun
Live News
-
‘Cybersecurity Is Everyone’s Business’ -- Ecobank’s Ghislaine Samaké
08:46
-
Michel Idjinou, A Beninese Expert in Digital Transformation and Data
08:35
-
Togo and Four Neighbors Sign Regional Pact on Security and Refugee Protection
08:26
-
Kerosene Shortage: Industry Diversion Blamed, CSPH Proposes Targeted Imports
08:22
-
Orange Engage for Change Marks One Year in Africa and Middle East
08:19
-
Beyond the Court: How Basketball is Uniting War-Torn South Sudan
08:12
-
Abidjan Hosts Choiseul Summit on West Africa’s Industrial Future
07:56
-
Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
16:17
-
Togo: Ministry of Higher Education Reviews Key Scientific Research and Innovation Program in Recent B2B meeting
18:13
-
Flutterwave Secures 20 Additional Money Transmitter Licenses Across the U.S
17:24
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
Sixty-five percent of banks in sub-Saharan Africa view cyber risks as a major hurdle to digitalization, according to the European Investment Bank. In...
Drafted tenth overall by the NBA's Phoenix Suns, 18-year-old center Khaman Maluach represents South Sudan's growing ambition to become a rising force in...
• Business leaders met in Abidjan to assess West Africa’s industrialization progress• Challenges include infrastructure gaps, affordable energy, and...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might seek to address rating concerns • April 2026 allows...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...