Nevada Copper Corp., backed by Pala Investments and Mercuria Energy Group, filed for Chapter 11 bankruptcy due to operational challenges and high copper prices.
Nevada Copper Corp., backed by Pala Investments and Mercuria Energy Group, filed for Chapter 11 bankruptcy protection despite high copper prices. The company faced operational challenges, including underground water buildup, hindering its ability to secure funds and sell itself. Nevada Copper has received a $60 million debtor-in-possession (DIP) financing commitment for restructuring, under the jurisdiction of the Bankruptcy Court.
June 10, 2024
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