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PanAust secures $102m loan for Phu Kam copper-gold mine

July 30, 2010 - 04:05 GMT Location: Singapore

KEYWORDS: PanAust , Australia , Laos , copper , gold , Phu Kam

Brisbane-based miner PanAust has secured $102 million of debt facilities for its Phu Kam copper and gold mine in Laos.

The three-year debt facilities comprise of an $85 million revolving term facility and a $17 million guarantee facility and hedging lines, secured with a syndicate of four banks: ANZ, Investec, Sumitomo Mitsui and Commonwealth Bank of Australia, PanAust said on Friday. PanAust will use the debt facilities for general corporate purposes including funding of working capital and operating expenses, working capital for the Phu Kham operation...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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