Emed Mining (LSE:EMED)
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5 Years : From Mar 2010 to Mar 2015
EMED Mining Public Ltd. (EMED.LN), a Europe-based minerals development and exploration company, said Monday it has formally mandated Goldman Sachs International on an exclusive basis to provide and/or arrange up to $175 million of finance to the Company, or a subsidiary, for the restart of the Rio Tinto Copper Mine.
-Financing is intended to be in the form of a copper pre-sale agreement.
-Under agreement EMED Mining will deliver the equivalent value of copper to Goldman Sachs on a monthly basis over a seven year term.
-Shares in London at 0825 GMT up 1 pence, or 10%, at 14.625 pence valuing the company at GBP113.92 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; email@example.com