Centaur Ventures, the Dubai-based mining and natural resources investment arm of Centaur Holdings Ltd, has signed a $100 million revolving credit facility.
The funds will be used to expand the mining and natural resources projects of Centaur Mining predominantly in South Africa.
Centaur’s mining arm, which is based in South Africa, have received reserve bank approval for ZAR1.5 billion ($100.3 million) for the funds to be deployed in South Africa.
The deal, which was agreed at a 4 percent coupon, will see Centaur’s Asset Management arm serve as the advisor to Centaur Ventures. Centaur Ventures are based in Dubai, with additional offices in London, Hong Kong and Bermuda.
Centaur Ventures was established with a specific focus on investments in the mining and natural resources sectors in South Africa, US, UK and Australia.
Daniel McGowan, CEO of Centaur Holdings, said: “This is a significant development for our business, and will allow us to place considerable investment in a number of our ongoing projects.
"There is a real sense of momentum behind the business at present, and we expect this deal to further boost our mining capabilities in South Africa, as we seek to deliver even stronger returns to our investors.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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