We have successfully refinanced our multicurrency revolving credit facility, securing US$1.4 billion of commitments from lenders for a five-year term, with options to extend for up to two more years.
The new facility is a Sustainability Linked Loan – among the first in the mining industry. The loan includes measures linked to our ongoing commitment to reduce our carbon emissions and improve our energy and water use efficiency.
In making the announcement, our Chief Financial Officer, Katie Tovich, said sustainable development was at the heart of our purpose and formed an integral part of our strategy.
“We are taking meaningful action to benefit our stakeholders, our planet and our business. Our new revolving credit facility provides South32 with continued access to substantial liquidity and is one of the first in the mining sector to be directly linked to sustainability performance, aligning our action and access to capital,” Katie said.
South32 Chair, Karen Wood, said the inclusion of specific measures on our sustainability performance demonstrated our commitment to make a difference by developing natural resources in a way that improves people’s lives now and for generations to come.
“Together with the recent changes to our remuneration framework to align with our commitment to decarbonise and reshape our portfolio, the new facility strengthens this alignment between our business and stakeholders,” Karen said.See the full announcement here and read more about our sustainability performance in our 2021 Sustainable Development Report.