London — Mayer Brown has advised the Africa Finance Corporation on its provision of a $21 million stream facility and $54 million credit facility to fund Thor Explorations' Segilola Gold Project in Nigeria.
The Segilola Gold Project is the first of its kind in Nigeria and the financing has been achieved against the challenging backdrop of the Covid-19 pandemic. Gold production is projected to start in early 2021.
The Africa Finance Corporation is a multilateral finance institution that supports high quality infrastructure and industrial investment across Africa in a number of sectors.
The Mayer Brown team was led by Banking & Finance partners Rachel Speight and Ian Coles, and included Banking & Finance associate Emma Sturt and Litigation & Dispute Resolution counsel Tamsin Travers (all London).