November 3, 2016 / 12:27 PM / 2 years ago

BRIEF-Noranda Income Fund says Glencore Canada agrees to renew supply, processing deal

Nov 3 (Reuters) - Noranda Income Fund

* As a result of change to market term pricing, fund’s financial results will differ materially, beginning in q2 2017

* Glencore Canada will arrange, as agent on behalf of fund, for purchase of zinc concentrate required by fund

* Noranda Income Fund -received notification from Glencore Canada indicating it will renew agreement of zinc concentrate for 5 years through may 2, 2022

* Noranda Income Fund -main challenge facing fund will be to continue to operate processing facility at profit once market terms take effect may 3, 2017

* “board of trustees is carefully reviewing fund’s reserves and will augment reserves if necessary”

* Noranda Income Fund receives confirmation from Glencore Canada that supply and processing agreement will be renewed Source text for Eikon: Further company coverage:

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