CAPITAL MARKETS

Straits sells Nifty for $159 million

STRAITS Resources has sold its Nifty heap leach SX-EW copper mine and other assets in the remote Great Sandy Desert region of Western Australia for $158.8 million to the Aditya Birla Group, a multinational conglomerate based in India where it is the largest copper and fully integrated aluminium producer.

Michael Quinn
Straits sells Nifty for $159 million

The net consideration to Straits is just under $90 million, with around $69 million related to repayments, assumption by the purchaser of all project finance debt, and a trade finance facility at the corporate...

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