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Export-Import Bank of Korea Provides $200 Mil. to Copper Mine Project in Peru
Providing Project Finance
Export-Import Bank of Korea Provides $200 Mil. to Copper Mine Project in Peru
  • By Jung Suk-yee
  • August 17, 2018, 11:57
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The Export-Import Bank of Korea will provide US$200 million through project financing to a copper mine development project in Peru.
The Export-Import Bank of Korea will provide US$200 million through project financing to a copper mine development project in Peru.

The state-run Export-Import Bank of Korea announced on August 16 that it would provide US$200 million through the project finance (PF) method to a copper mine development project in Peru.

The project involves Peru mining company Mansur, which will develop a copper mine in the Mina Husta area in partnership with Chilean energy company Copec. The mine will start producing copper in 2021.

Korea's LS Nikko Copper will purchase 30% of the total output over the next 10 years.

Mansur, the main operator of the project, demanded long-term purchasing financing to finance the project as a precondition for the purchase of the contract.

In addition to the Export-Import Bank of Korea, Export Insurance Corporation of Germany, the Export-Import Bank of Canada, and the Export-Import Bank of Australia have participated in the project as lenders.