CuDeco receives loan for copper concentrate sales

Company News

by Kathy Skantzos

CuDeco (ASX:CDU) has received US$20 million from Mitsui & Co in accordance with its copper concentrate sales agreement.

It has also today announced repayment of US$15 million to China Minsheng Banking Corporation.

The company has in addition secured an extension of a loan worth $80 million Hong Kong dollars, or $13 million Australian dollars until the end of this month.

CuDeco’s loans also include $27.5 million to Sinosteel Equipment and Engineering and a $22 million convertible note facility with Gemstone.

The copper miner continues to progress negotiations with a number of parties to secure a longer term restructured complete financing facility.

Shares in CuDeco (ASX:CDU) are trading at 37 cents a share.
 

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