• Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

  • Singapore shows the way

    SA badly needs leaders like the man who turned Singapore around, says Leopold Scholtz.

  • Israeli high-tech flies

    There is rising demand for the country’s high-tech products, says Arthur Goldstuck.

Loading...
See More

Standard in Zambian mine loan deal

Sep 30 2011 14:12 Sapa-AFP

Related Articles

New body to police African loan standards

Zim won't get World Bank loans soon

SA loan to Swaziland delayed

Zambian mine raises pay

Metals boost Zambian copper

Zambia suspends mine ops

 
Johannesburg - Standard Bank said on Friday it has provided a $500m loan facility to Zambia's largest mining company, Konkola Copper Mines, a unit of London-listed Vedanta Resources.

The loan will be used to refinance shareholder loans from Vedanta, the bank said.

"In addition, Standard Bank is also mandated to arrange and underwrite a $700m term loan facility to fund investment that will turn the Zambian copper miner into one of the world's leading copper producers, and provide further impetus for growth in the Zambian economy," it said.

"The funding to KCM is the single largest injection into the Zambian Copper Belt ever by a bank," said Brad Breetzke, head of mining finance at Standard Bank.

Last year Vedanta announced a $674m expansion at Konkola to increase output from 2 million to 7.5 million tonnes per year.
standard bank

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...