03
Jun
01:00
Karara refinances but ramp up still slow
Australia’s Gindalbie Metals has secured a $1.48 billion refinancing facility for the Karara Mining joint venture with China’s Anshan Iron and Steel (Angang). The financing puts the project’s financial liabilities back until after 2020 but the project is likely to remain a burden on the owners until iron ore prices improve, Kallanish notes.
The Karara project has caused significant write-downs to Glindalbie and Angang after being brought on…
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Anonymous
Very good overview of the weekly steel market.
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