CDB provides $125 million loan to Chinalco Peru for Toromocho Project
Commitment amount
$ 140284446.19736907
Adjusted commitment amount
$ 140284446.2
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Peru
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
In August 2015, Minera Chinalco Perú S.A. ('Chinalco Peru') obtained a $125 million banking facility from China Development Bank (CDB) for the general corporate purposes and to support the Toromocho Project, a copper mine owned by Chinalco and located in the Junin Region. In August 2015, November 2015, and December 2015, $30 million, $50 million and $45 million were drawn down, respectively. This facility was secured by (i.e. collateralized against) trade receivables from several copper concentrate sales agreements. As of June 2016, the facility had been fully drawn down and $24.8 million had been repaid.
Additional details
1. The Chinese project title is 特罗莫克项目.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Minera Chinalco Perú S.A. [Joint Venture/Special Purpose Vehicle]
Collateral
Trade receivables from several copper concentrate sales agreements