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16 DECEMBER 2021 AL CIRCLE

Diversified mining and metals group South32 signs $1.4 billion credit facility with environmental intent

EDITED BY : RUPANKAR MAJUMDER 1MINS READ

The globally diversified mining and metals company producing bauxite, alumina, aluminium among other commodities, South32 with its headquartered in Perth, Western Australia secured $1.4 billion (R22.5bn) in commitments from financiers until 2026, manifesting its new credit facility as a sustainability-linked loan.

South32 signs $1.4 billion credit facility with environmental intent

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The credit facility, which has a course of action for a two-year extension, recapitalizes the group’s enduring undrawn revolving credit facility that is due for a lapse in 2023.

The miner stated that the facility has been entrenched as a sustainability-linked loan with proceedings linked to allegiance for scaling down emissions and advancement in energy and water use efficiency.

South32 signs $1.4 billion credit facility with environmental intent

Katie Tovich, the CFO of South32 said: “Sustainable development is at the heart of our purpose and forms an integral part of our strategy.”

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“We are taking meaningful action to benefit our stakeholders, our planet and our business. Our new revolving credit facility provides South32 with continued access to substantial liquidity and is one of the first in the mining sector to be directly linked to sustainability performance, aligning our action and access to capital,” Tovich added.


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EDITED BY : RUPANKAR MAJUMDER 1MINS READ

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