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.
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