Goldfields Ghana gets $60m loan from Stanbic Bank

Stanbic Bank, a subsidiary of the Standard Bank Group in South Africa says it has closed a $60 million senior revolving loan with Gold Fields Ghana, according to a Reuters publication June 29,2011.

The loan, which is a 3-year facility, will be invested in Goldfield’s Tarkwa and Abosso mines.

Goldfields last week paid IAMGOLD $667 million to take-over its 18.9% shares in the Tarkwa and Damang gold mines in Ghana.

By Ekow Quandzie