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Standard Bank says it has provided a 500 million dollars loan
facility to Zambia's largest mining company, Konkola Copper Mines.
The Bank has said in a statement that the loan will be
used to refinance shareholder loans from Vedanta.
The statement further notes that Standard bank will arrange and underwrite a 700 million dollars loan facility to fund investment for KCM.
The statement further notes that Standard bank will arrange and underwrite a 700 million dollars loan facility to fund investment for KCM.
Standard Bank Head of Mining Finance, Brad Breetzke says
the loan facility is the single largest injection into a local mining company.
The loans are in the backdrop of KCM holding company, Vedanta,
having announced last year a 674 million dollars expansion investment to increase
output.
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