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Aeris walks away from Glencore copper mine buy

From miningweekly.com

ASX-listed Aeris has abandoned its $575-million plan to buy the CSA copper mine, in New South Wales, from major Glencore. The company told shareholders on Monday that it had been unable to reach agreeable terms with the Swiss-headquartered major.Aeris announced the planned acquisition last month and said, at the time, that it planned to fund the purchase through a combination of between $250-million and $300-million in debt, an equity capital raise of between $185-million and $240-million, and a silver stream of between $35-million and $40-million. The underground CSA operation produces more than 1.1-million tonnes a ... (full story)

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