Yukon Metals identifies priority drill targets at Birch copper-gold project
The 7,000-hectare Birch project is one of the company’s 17 properties across 42,500 hectares in Canada's Yukon Territory.
Codelco is tapping the bond market to the tune of about $1.5 billion to help fund record investments needed to retain its status as the world’s biggest copper producer.
Chile’s state mining firm is offering two benchmark-size tranches of about $750 million each — one maturing in 10 years and the other in 30 years, according to people familiar with the matter. It sold a similar amount a year ago.
Codelco has embarked on an unprecedented spending program to overhaul its aging operations in Chile after decades of underinvestment. Capital expenditure was budgeted at between $4 billion and $5 billion last year and almost $6 billion this year as the company looks to recover from the lowest production levels in a quarter century.
Bookrunners — Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Banco Santander SA — have tightened the price talk on the 10-year tranche to about 170 basis points from about 195 basis points, and on the 30-year tranche to about 190 from 215 basis points.
The bonds are expected to price Wednesday and settle Jan. 13.
(By James Attwood)
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