London Mining in offtake contract dispute with Glencore

UK-based London Mining, a global diversified miner targeting the steel sector, has announced that it is in dispute with the international commodities producer and trader Glencore regarding a cash prepayment amount which London Mining has requested and which Glencore has refused to pay.
 
The company is currently considering the options which may be available to it under its offtake agreement with Glencore including termination of the agreement. London Mining also said that it is in discussions with its core lender to provide the required short-term replacement liquidity.