UK 09:03 Tuesday, 6 October 2026
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Having successfully secured a three-month extension of a $30 million (£20 million) loan facility and convertible loan notes, unloved EMED Mining (EMED) now needs to assemble a financing package of E70 million (£51 million) and E90 million’ to re-launch copper production from Spain’s historic Rio Tinto mine by this autumn. So says Alberto Lavandeiro, AIM-quoted EMED’s chief executive officer, in the wake of an agreement by three key shareholders, lenders and potential customers to extend the loan repayment deadline and the maturity of the convertible by three months to the end of June.
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Comments
Fred
Just one more bit of paper from the junta de Andalusia .and they are away ?????? Well good luck they should get the mine open in the next 10 years or so.the last thing the junta care about is the unimployed.or .any business that are not spanish
wildrides
Seldom or never has re opening an existing mine consumed so much capital and taken so long . Hopefully shareholders will soon have release from the giant lobster pot that is EMED . The Spanish regulatory system has proved to be a time slowing, shape shifting enigma . The EMED management eclectic at best and illogical at worst . May the Gods preserve us from ever having to suffer a similar master piece of under achievement again.