Tagged: Glencore plc have proposed a joint $200 million loan to Mopani Copper Mines plc in order to alleviate present liquidity issues. According to a letter seen by Reuters

Glencore plc have proposed a joint $200 million loan to Mopani Copper Mines plc in order to alleviate present liquidity issues. According to a letter seen by Reuters, Glencore would put forward $100 million as a short-term cash injection with the other half being provided by Zambia Consolidated Copper Mines Investment Holdings  (ZCCM-IH) – Zambia’s state-owned mining company. The loan would be intended to cover general costs including buying reagents and paying workers and suppliers. Glencore is believed to have already lent $47 million through procuring letters of credit to cover electricity bills and the purchases of copper concentrate. Zambia has...