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Noranda Income Fund Unit NNDIF

Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.


OTCPK:NNDIF - Post by User

Post by wizthewizon Feb 24, 2021 10:37am
217 Views
Post# 32646350

Glencore Canada versus NIF

Glencore Canada versus NIF
HL recently posted their 2020 year end and this paragraph was included:

"Extension of Agreements with Glencore Canada
On November 5, 2020, the Fund announced the extension of its exclusive agreements with Glencore Canada for the purchase of zinc concentrate and the sale of zinc metal for an additional period of three years through to April 30, 2025. In addition, the Supply and Processing Agreement (“SPA”) was amended so that its current term ends on April 30, 2025, and it will renew automatically for five-year terms thereafter, unless Glencore Canada provides a written non-renewal notice at least 540 days prior to the renewal date, an increase from the 180 days required by the original agreement. Corresponding amendments have been made to the Operating and Management Agreement, the Management Services Agreement and the Administration Agreement. In the event that Glencore Canada provides a written non-renewal notice, Glencore Canada has agreed to use reasonable commercial efforts to assist the Fund in putting into place such arrangements as may be reasonably required by the Fund to secure zinc concentrate and market the zinc metal it produces, following the expiry of the SPA."

Is this the zinc from the NIF smelter?
Thank you
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