• Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

All data is delayed
See More

Standard in Zambian mine loan deal

Sep 30 2011 14:12
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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote