News Wrap

IN THIS morning’s News Wrap: Glencore strikes debt deal; Samarco dam disaster agreement seen within days; and NSW communities to get bigger say in mining projects.

Lou Caruana

Glencore strikes debt deal

Glencore, the Anglo-Swiss mining and trading house, demonstrated it still has access to relatively cheap funding on Wednesday by refinancing a key $US8.4 billion chunk of its debt, according to the Australian Financial Review.

Confirmation by the London-listed company that it has refinanced a revolving credit facility early and with the support 37 banks was viewed as a much-need voted of confidence in the embattled mining sector.

Samarco dam disaster agreement seen within days

The Sydney Morning Herald reports that the Brazilian government expects to reach agreement by Friday with Samarco Mineracao to settle a 20 billion-real ($US4.9 billion) lawsuit for damages in a deadly dam disaster, a spokesman for Brazil's attorney general said on Wednesday.

Brazil sued Samarco, a 50-50 iron ore joint venture between Brazil's Vale and Australia's BHP Billiton, after an iron ore tailings dam at its mine in Brazil's Minas Gerais state burst in November.

NSW communities to get bigger say in mining projects

New South Wales communities likely to be affected by major mining, or other developments, are to have more say in the project under revised guidelines for consultative committees, according to the Sydney Morning Herald.

The Department of Planning and Environment will seek public input until the end of March on new draft guidelines on the committees, with details to be published on Thursday.

Such groups are currently appointed by the company running the project and typically include local environmental and other organisations.

Most read Archive



Most read Archive