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Glencore exits, administrators enter

THE recent financial woes of mining contractor Henry Walker Eltin have culminated in the voluntary appointment of administrators Ernst & Young after Swiss-based commodities trader Glencore decided not to proceed with a $100 million recapitalisation plan.

Rebecca Keenan
Glencore exits, administrators enter

Immediately prior to Christmas Glencore had said it would invest $60 million via a convertible preference share placement and underwrite a $40 million rights issue priced at 40c. It is not known which...

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