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Meridian increases loan facility to US$6.8M

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Meridian increases loan facility to US$6.8M

Meridian Mining SE said Dec. 10 that its loan facility from Sentient Global Resources Funds IV LP increased to a principal amount of US$6.8 million from US$5.2 million.

The terms for the US$1.6 million increase in the facility remain the same. The loan bears an interest of 10% per annum and is set to mature on March 31, 2020.

On Dec. 4, the company said that it placed its Espigão d'Oeste manganese operation in Brazil into temporary care and maintenance amid weak prices.