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Katanga Drawing Down $515.5 Million Loan to Fund DRC Mine Expansion
Dec. 14, 2012 08:17AM PST
Battery Metals Investing
Mining Weekly reported that Katanga Mining is drawing down $515.5 million from its senior secured facility backed by Glencore to fund part of the Phase four expansion of Katanga’s copper/cobalt mine in the DRC.
Mining Weekly reported that Katanga Mining is drawing down $515.5 million from its senior secured facility backed by Glencore to fund part of the Phase four expansion of Katanga’s copper/cobalt mine in the DRC.
As quoted in the market report:
Phase 4 of the company’s expansion plans include an upgrade of the power infrastructure, which is expected to decrease frequent power disruptions at the complex; the start of mining at the extension to the T17 openpit and the completion of the feasibility study for a potential underground mine at the T17 deposit.
