This is part of the bank's stated intention to expand its operations in Africa through funding infrastructure development projects on the continent.
Business Day quotes Standard Bank's head of mining, energy and infrastructure finance, Brad Breetzke as saying the $500-million would refinance shareholder loans from Konkola's parent company Vedanta Resources.
Once the $700-million expansion is complete, Konkola will be one of the world's leading copper producers and would generate much-needed export revenue for the country.
Read the full article on www.businessday.co.za/.
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