Rox Resources Limited, a gold miner operating in Western Australia, has secured A$350 million ($242.7 million) in debt financing to develop its Youanmi gold project in the western Murchison region.
According to a company statement, the syndicated loan agreement was entered into with leading lenders Societe Generale, Sumitomo Mitsui Banking Corporation, HSBC, and Westpac Banking Corporation. The financing package includes a A$300 million ($208.1 million) secured project loan, a A$20 million ($13.9 million) cost overrun facility, and a A$30 million ($20.8 million) bank guarantee. The completion of the syndicated loan agreement follows Rox's March 9 announcement that it had fully financed the Youanmi project, moving the company closer to finalizing the financing and commencing construction.
According to Rox CEO and Chairman Phill Wilding, the agreement marks a significant milestone in advancing the project. "The continued support of an impressive number of Australian and international banks demonstrates the high level of confidence in the project and the team we have assembled to deliver it," he said. "We will now work with the syndicated banks to finalize the financing, allowing us to commence borrowing in the quarter ending September 2026."
"Following the final investment decision and completion of the syndicated loan agreement, we look forward to commencing construction," Wilding added.
Gold production at the Youanmi project is expected to commence in mid-2027, positioning Rox among Australia's leading gold mining operations.
As previously stated by the company, the project is designed to produce 786,000 ounces of doré gold over a 7.7-year lifespan, averaging over 100,000 ounces per year. Rox estimates that the deposit's underground resources could range from 1.1 million ounces to 1.8 million ounces, which, if successfully developed, would increase annual production and extend the life of the mine.
Rox Resources Limited is a Western Australian gold exploration and development company. It is developing two projects: the Yuanmi project near Magnet, 480 km northeast of Perth, and the Mt Fisher – Mt Eureka project, 140 km southeast of Wiluna. The company's primary focus is on developing the high-quality, highly profitable Yuanmi gold project, with estimated total resources of 16.2 million tonnes of ore at 4.4 g/t gold grade, or 2.3 million ounces of gold.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
