Iron ore price weakens as Australia flags return to sub-$100 prices
Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week.
Perilya Limited (ASX:PEM), an Australian base metal miner, plans to raise A$110 million to delever the company’s balance sheet and fund the company’s ongoing activities.
The company said on Wednesday that it plans to issue 263,037,782 ordinary share at 42 cents per share. UBS AG is the underwriter.
Perilya Limited has a zinc, lead and silver mine in Broken Hill, New South Wales. Perilya’s operations also include the Flinders Project in South Australia and the Mount Oxide Project in Queensland.
