Jiangxi Copper, one of China’s biggest copper producers, will receive "financial assistance" to the tune of 1.5-billion yuan ($213.10-million) from its parent to repay loans and cut financing costs, the company said.
The support from controlling shareholder Jiangxi Copper comes after the State-run company said this week it would pay $1.1-billion for an 18% stake in Canadian miner First Quantum Minerals, to be part-funded by a syndicated loan of up to $700-million.