Coris Bank injects $58 million into the expansion of Orezone Gold's Bomboré mine

Burkina Faso's Coris Bank, under the leadership of CEO Idrissa Nassa, has reinforced its leading role in mining finance in West Africa by approving a $58 million (CFA 35 billion) loan to Orezone Gold. This financing, announced on 23 December 2024, is intended to support the expansion of the Bomboré gold project in Burkina Faso.

The loan, which has a three-year term and an annual interest rate of 11%, will enable the Bomboré mine to increase its annual production from 110,000-125,000 ounces to more than 170,000 ounces by 2026. A first tranche of this financing has already been disbursed, with further instalments scheduled for the coming year. Repayment of the loan will begin once the expansion work is completed in 2026.

Since it was founded in 2008 by Idrissa Nassa, Coris Bank has become a key player in the financing of mining and infrastructure projects in West Africa. In 2021, the bank had already granted a loan of 100 million dollars for the construction of the Kouroussa gold mine in Guinea. Nassa has also invested $47 million in Orezone Gold through Nioko Resources Corporation, one of its companies.

The Bomboré mine, operated by the Canadian company Orezone Gold Corporation, is an emblematic project for Burkina Faso's mining sector. Its expansion is expected to increase the country's gold exports and create new employment opportunities, thereby strengthening its economic and social impact.

With this latest loan, Coris Bank is consolidating its reputation as the main financial partner for major mining operations in West Africa. In addition to Bomboré, the bank has also supported projects such as the Kiaka gold mine in Burkina Faso and the Kouroussa mine in Guinea. This strategic positioning reflects Coris Bank's desire to contribute to the sustainable development of the region by supporting key industries.

Under the leadership of Idrissa Nassa, Coris Bank not only finances projects, but also plays an active role in the industrial and economic development of West Africa. The bank's involvement in the Bomboré project reflects its confidence in the growth potential of the mining sector and in Orezone Gold's management capabilities.

By supporting initiatives such as the Bomboré expansion, Coris Bank is helping to shape the economic future of Burkina Faso and the region.