Glencore are trying to spin the fact that they are overburdened with debt. If their debt burden weren't a problem they would be signing up all the off-takes they could lay their hands on given their stated outlook for copper. Going on a buying strike because the price is too low doesn't make sense. I'll stick to my buy low sell high strategy thanks. I will happily participate on any SPP component to the final restart funding.
Ann: USD35M Offtake Prepayment Facility for Nifty Restart Project, page-20
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