China copper smelters bracing for shortage of vital scrap metal
Around 30% of China’s refined copper production used scrap metal as a feedstock in 2023.
Moly Mines Ltd (MOL.TO: Quote) (MOL.AX: Quote) said it got loans totalling $494 million from China Development Bank Corp(CDB) for the construction of its Spinifex Ridge molybdenum and copper project in Western Australia.
The miner said the loans will include a $454 million syndicated loan. CDB will also provide the company with a $40 million working capital loan.
