African Copper’s Kipp defends decision to raise local capital

08 March 2010 00:00

Banks in Botswana have offered competitive terms for a loan being negotiated with African Copper (ACU) to provide working capital for its Mowana copper mine, cfo Brad Kipp told MB, as he defended the need to raise additional capital. “On the working capital line, we’ve talked to a number of institutions. Botswana banks are pretty competitive for rates,” Kipp told MB, rebuffing criticism that ACU should look to western banks for funding. Western banks would provide better terms, according to analysts and mining executives, who told MB they believe that a local loan would be more expensive. Some...

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African Copper’s Kipp defends decision to raise local capital

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