You are here

Cash-starved mines draw new money on bet metal slump ending soon

Producers are selling their future metal production to fund managers hoping to acquire secure supplies at low prices for the future
Monday, October 26, 2015 - 05:50
BT_20151026_GLEN26_1943700.jpg
Glencore is aiming to shore up its weakened balance sheet by seeking to tap "streams" of metal from existing mines.

Toronto

THE world's mining companies are so desperate for cash that more are selling their future metal production, drawing interest from investors willing to bet that the worst commodity slump in a generation is near a bottom.

Producers including Glencore Plc and Barrick Gold Corp