Aureus Mining wins more time at New Liberty

West African gold producer Aureus Mining announced a fresh deferral to its debt repayments on Wednesday, allowing it more time to get its gold processing plant running.

The AIM and TSX-traded firm said it has received approval from Nedbank, Rand Merchant Bank and the Export Credit Insurance Corporation of South Africa to further defer its first debt repayment to 30 June.

“Mining operations remain ongoing at New Liberty, and the company continues towards its objective of achieving a controlled start-up of the gold processing plant, with plant modifications and remediation measures to optimise the detoxification circuit nearing completion,” the company’s board explained in a statement.

“The company is continuing to maintain a close working relationship with both the Ministry of Lands, Mines and Energy and the Environmental Protection Agency of Liberia, and fully expects to receive approval to recommence processing operations in the coming days.”

Aureus Mining said it would inform the market as soon as processing begins.