Endeavour Mining to significantly reduce debt by 2023
The West African gold producer led by Sébastien de Montessus, President and CEO, ranks as one of the world’s least indebted gold producers, behind Alamos and B2Gold, and well ahead of Gold Fields, AngloGold, Barrick and Newmont (over $7 billion in liabilities).
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▪ Endeavour Mining to significantly reduce debt by 2023
▪ The West African gold producer led by Sébastien de Montessus, President and CEO, ranks as one of the world’s least indebted gold producers, behind Alamos and B2Gold, and well ahead of Gold Fields, AngloGold, Barrick and Newmont (over $7 billion in liabilities).
Compared to March 2021, when its debt totalled more than $1 billion – including $384 million of receivables recovered as part of the Teranga buyout – Endeavour will start the 2023 financial year in an improved position. The company will redeem its convertible bonds by February 2023, amounting to $330 million. This will leave the company with $500 million of senior notes, which are not due until October 2026.
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