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SigraFi secures $35M credit facility to finance gold supply
The UK-headquartered offtake firm said it will use the credit line to expand operations with contracted suppliers in the DRC and Zambia and add new cooperatives across multiple regions.
SigraFi, a UK-headquartered gold offtake company, said it has secured a $35 million credit facility to finance its gold supply.
According to Mining.com, the credit line is provided by a consortium of British and UAE investors led by UAE-based Ronin Commercial Brokers LLC, and SigraFi plans to use the capital to expand current operations with contracted suppliers in the DRC, Zambia and South America, and to contract new cooperatives and aggregators.
SigraFi purchases gold under multi-year contracts from organised artisanal and small-scale gold mining cooperatives, and Mining.com reported it is partnered with PeaceGold in eastern DRC.
The outlets said PeaceGold, established in 2013 with a local nonprofit, acts as an aggregator and export partner for participating cooperatives, while SigraFi provides guaranteed offtake agreements at competitive pricing, with PeaceGold’s network covering 11 cooperatives representing 25,000 miners in Ituri Province.
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