Sandfire and Nedbank boost global copper production

 

Sandfire Resources Limited (Sandfire) is an Australian-listed copper mining company. Sandfire manages notable mines and projects, such as the Motheo Copper Operations in Botswana and the MATSA copper operations in Spain.

Nedbank Corporate Investment Banking (CIB) has proudly strengthened its relationship with Sandfire by being the only African bank in its new corporate revolving facility, valued at US$650 million. This relationship was originally cemented through the Motheo Project finance facility, where the Nedbank Mining and Resources served as the mandated lead arranger and facility and security agent.

 

Global operations in Australia, Botswana and Spain

Sandfire has announced a major debt refinancing that spans its global operations in Australia, Botswana and Spain.  The company has successfully consolidated and refinanced its existing debt across these regions, creating a more flexible framework to support its future expansion plans. This move is expected to strengthen Sandfire’s balance sheet and enhance its ability to pursue new growth opportunities within the mining sector.

 

Nedbank CIB: The mining financier of choice

According to Cathy Nader, Principal of Mining and Resources at Nedbank CIB, Nedbank CIB aspires to be the mining financier of choice for mining companies across Africa, Canada, Australia, Europe, and the Middle East. ‘Nedbank has the experience and appetite to provide bespoke credit facilities and banking solutions to international mining companies, cementing its status as the leading mining financier In the EMEA region,’ says Nader.

Furthermore, the new facility advances Nedbank's European strategy given Sandfire’s 3 copper mines in Spain. Nedbank's involvement in this transaction reinforces the bank's reputation as a provider of large-scale, tailored funding solutions to global mining clients and demonstrates its ability to support projects that contribute to sustainable economic development.

 

Copper: The backbone of the green energy revolution

As the world accelerates towards a more sustainable future, copper is emerging as one of the most indispensable minerals in the green energy transition. From electric vehicles to advanced robotics, computers, and other smart devices, the demand for copper is
surging, positioning it as a critical component in the technologies shaping tomorrow.

Nedbank CIB’s unwavering support for Sandfire is critical for boosting copper production. By supporting Sandfire, Nedbank will enable the growth of the copper mining industry. This collaboration shows Nedbank’s commitment to fostering sustainable development and unlocking new opportunities within the mining industry.