NZ Refining signs platinum sale and lease back deal with Bank of Nova Scotia

Mon, 22 Dec 2014

By Paul McBeth Dec. 23 (BusinessDesk) - New Zealand Refining, which operates the Marsden Point refinery, has entered into a sale and lease back agreement for industrial platinum with Bank of Nova Scotia which it anticipates will cut annual costs by about $500,000. The Whangarei-based company sold about 8,300 ounces of platinum contained in a catalyst in its platformer processing unit to the bank for about $12.4 million, and will lease it back from the financier for an initial term of 12 months, with the option to extend the term and make...

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