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China Nonferrous Gold Agrees $46 6 Million Loan

Provided by Dow Jones By Anthony O. Goriainoff China Nonferrous Gold Ltd. said Friday that it has agreed a $46.4 million loan with China CITIC Bank Corporation Ltd. The AIM-listed, Tajikistan-focused gold mining company said the loan is for a maximum of 12 months and is repayable 12 months from first drawdown. It added the facility carries a 2.70% annual interest rate plus 6-month LIBOR, and that the loan will be guaranteed by China Nonferrous Metal Mining (Group) Co., Ltd. Approximately $20 million of the CITIC Loan is expected to be drawn down shortly and will be used for the replacement of CCB Macau loan of $20 million which is due in January 2021, the company said.

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