🇲🇺MauritiusEast Africa
MCB invests $25 million in CoreX Holding's acquisition of Compagnie Minière du Bafing in Côte d'Ivoire
via Le Mauricien3 min read
MCB Ltd has committed $25 million to a $180 million bridge take-out facility for CoreX Holding, a global metals and mining group. This financing supports CoreX Holding's acquisition of a major mining asset in Côte d'Ivoire. CoreX Holding, a diversified industrial group with operations in 55 countries, recently acquired a majority stake in Compagnie Minière du Bafing CMB. CMB operates Africa's largest Direct Shipping Ore DSO nickel project in Côte d'Ivoire, which includes the Foungbesso and Moyango open-pit mines. These mines contain approximately 47 million wet metric tons of high-grade nickel laterite deposits. This acquisition strengthens CoreX's global nickel portfolio and its position as a vertically integrated player in sustainable mining assets. Nickel is a critical raw material with strong long-term demand prospects, driven by its use in stainless steel manufacturing and new energy transition applications, particularly battery technologies. CoreX Holding's investment contributes to the development of Côte d'Ivoire's mining sector and broader economic growth in the region, highlighting Africa's increasing importance as a supplier of critical minerals. MCB's participation as a Lead Arranger in this secured financing facility reinforces its growing presence in the natural resources sector and its commitment to supporting critical minerals essential for the global energy transition. This transaction aligns with MCB's strategy to expand its involvement in the metals and min
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This summary was AI-generated from a story originally published by Le Mauricien.
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