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Have financial institutions lost risk appetite for Africa's mining sector?

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Cape Town - In 2016 many financial institutions lost their risk appetite for the mining sector, according to Martin McCann, a senior financing lawyer at Norton Rose Fulbright.

"A year ago all everybody in the mining industry talked about was restructuring and it will likely be one of the main themes for 2017 as well, McCann said at a panel discussion hosted by Norton Rose Fulbright during the Mining Indaba in Cape Town.

"Currently borrowers and lenders are in a type of purgatory, a kind of uncertainty. Instead of institutions saying 'if you give me 10% or 20% of my debt I will get out', we find they say they will stay, but want something in return."

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