NewsBite

Clouds grow over Bank of China's Yancoal loan

Peter Ker
Peter KerResources reporter

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Acquisitive miner Yancoal appears increasingly unlikely to receive a promised cash injection from a subsidiary of Bank of China, after the subsidiary missed its second deadline to provide a $US175 million loan on Friday.

Known as BOCI Financial Products, the subsidiary promised to lend $US375 million to Yancoal in February 2016 to help provide the ASX-listed miner with working capital through the bottom of the coal price cycle.

Loading...
Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Mining

Fetching latest articles

Most Viewed In Companies

    Original URL: https://www.afr.com/companies/mining/clouds-grow-over-bank-of-chinas-yancoal-loan-20170401-gvblho