[miningmx.com] – MWANA Africa, the UK-listed base metals producer, said it had received approval from the Zimbabwean government to issue a bond which would be used to finance the restart of a smelter by its 74% owned Bindura Nickel.
In terms of Zimbabwean law known as Prescribed Asset Status, asset managers in the country are required to invest a certain minimum percentage of their assets in the debt instrument, details of which were forthcoming.
“The restart is anticipated to increase revenue per tonne of contained nickel by between 15% to 20%,” said Kalaa Mpinga, CEO of Mwana Africa.
