Hot Chili accepts a A$14.4 Million Investment from Glencore
Hot Chili (HCH:ASX), a leading junior copper developer in Chile, has announced a “strategic” investment by Glencore to acquire 9.99% interest in the company. The agreement is worth A$14.4 million. Glencore will have the right to appoint a Director to the Board of Hot Chili, and the right to appoint members to a Technical Steering Committee to advise on operational matters. It will be granted offtake agreements over 60% of concentrate produced for a period of 8 years from commercial production on arms-length commercially competitive benchmark terms. These rights are…
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