• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Standard in Zambian mine loan deal

Sep 30 2011 14:12
Sapa-AFP
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

NEXT ON FIN24X

 
 
 

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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...