EMED in deal with Goldman

MINER EMED yesterday sealed a $175m (£110m) funding package from Goldman Sachs to help it restart work on the Rio Tinto copper mine in Spain.

EMED will deliver the equivalent value of copper once the Rio Tinto mine is fully operational, it said in a statement.

At current levels, this would mean Goldman gets 15 per cent of all copper produced at the mine.

EMED also recently got funding from Chinese funded smelter group XGC in return for a stake in the mine’s copper.