South Africa’s State-owned Industrial Development Corporation (IDC) has issued a written expression of interest and indicative funding terms in connection with the financing of Qala Shallows, which form part of the Witwatersrand Basin Project of West Wits Mining. A proposed IDC debt facility of R300-million ($15.9-million) for development capital for the project aligns with customary conditions for loan facilities and showcases the IDC's confidence in the Qala Shallows gold project, Australian Stock Exchange-listed West Wits stated in a July 11 media release.
