Brazilian gold development company Beadell Resources has won a US$80mn project finance loan from WestLB and Macquarie Bank to finance the Tucano gold project.

The facility, which will be structured as a limited-recourse project finance loan, will gain further funding from Banco da Amazonia.

The loan will be subject to due diligence and credit approvals, Beadell says.

The Tucano gold project is located in northern Brazil and covers approximately 2,500 km with gold resources of approximately 3 million ounces.