EMED Mining Public Ltd. (EMED) has hired Goldman Sachs Group Inc. (GS) to arrange a project finance loan for as much as $175 million to restart production at its Rio Tinto copper mine in Spain.
The loan is in the form of a copper pre-sale agreement, with the miner paying back the lender in an equivalent value of the metal over seven years, Cyprus-based EMED said in a regulatory statement today. The deal is still subject to exploration approval by the Andalucian government and due diligence by Goldman Sachs, the company said.
To contact the reporter on this story: Stephen Morris in London at email@example.com.
To contact the editor responsible for this story: Faris Khan at firstname.lastname@example.org.