Kenmare Resources plc has received commitments in respect of a new $200 million Revolving Credit Facility (?RCF?). The facility has been provided by Absa Bank Limited (acting through its Corporate and Investment Banking Division), Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division) (?Nedbank?), FirstRand Bank Limited (acting through its Rand Merchant Bank division) and Standard Bank Group (acting through its Corporate and Investment Banking division) (?Standard Bank?). The Initial Mandated Lead Arranger in respect of the Facility was Rand Merchant Bank.

The new debt facility will comprise a $200 million RCF with a committed five-year term. The facility will replace the existing corporate debt facilities that were put in place in 2019, of which $47 million of Term Loan remains outstanding. The lenders will share a security package for a $50 million mine closure guarantee facility (up from $40 million in the existing facility).

Signing, closing and initial drawdown is expected to occur in March, following a 30-day consideration period by the Mozambican Ministry of Mineral Resources and Energy.