Financing Mina Justa Project

On August 15, 2018, Marcobre S.A.C., a Peruvian company that is carrying out a mining project called “Mina Justa”, in the Department of Ica, in southern Peru, and in which it participates, with 40%, the subsidiary Alxar Internacional SpA, has proceeded to contract a loan of the type “Project Finance”, with a union of credit agencies, financial institutions and banks.

 

The loan amounts to US$ 900 million, and is backed by Empresas Copec’s guarantee for 40% of the aforementioned sum. This guarantee (completion guarantee) has been granted for the entire construction and start-up phase of the Project, and was agreed at the Extraordinary Shareholders Meeting of Empresas Copec, dated May 16, 2018.

 

Mina Justa is a project that is being developed by Minsur S.A., a company of the Breca Group (Peru), with 60%, together with the subsidiary Alxar Internacional, with 40%.

 

The financial institutions that participate in the credit in favor of Marcobre are Export Development Canada, Export Finance and Insurance Corporation, Kfw Ipex-Bank GMBH, The Export-Import Bank of Korea, BBVA, Credit Bank of Peru, Credit Agricole, ING, Natixis and Société Générale.