COPPER
US hedge fund manager Elliott Investment Management has offered support to troubled Canadian miner Nevada Copper after the company filed for bankruptcy protection.
Before Monday’s bankruptcy filing, Nevada Copper had attracted two bidders though it failed to close a deal with either one, CFO Gregory J. Martin said in a court filing. To help pay for the Chapter 11 restructuring case, the company agreed to borrow as much as $60-million from Elliott affiliates. Elliott didn’t immediately provide comment.
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