2022
Mining & Resources · Peru
- E&S screened
Copper concentrator expansion
$95M
Structure: 8-year reserve-based loan with offtake linkage
Outcome: Throughput lifted from 18 to 31 ktpd; facility pre-paid 2 years early.
Related productMining
Mining Finance
SecuredDevelopment, expansion and equipment capital for proven mineral resources.
- Indicative rate
- 7.5% – 13%*
- Amount
- $2M – $150M
- Tenor
- up to 15 yrs
*Indicative APR range. Subject to credit approval. Not an offer of credit.
- Amount
- $2,000,000 – $150,000,000
- Indicative APR*
- 7.5% – 13%
- Representative rate
- 9.75%
- Max tenor
- 180 months (15 yrs)
*Indicative only. Subject to credit approval.
7.5% – 13% · up to 15 yrs · Arrangement fee 1% – 0.75%
Calculate repaymentsMining Finance supports proven resources moving to development or expansion — from processing plants to fleet replacement.
Our team includes geologists and metallurgists who review reserves alongside independent consultants.
Key features
- Reserve-based lending
- Offtake-linked facilities
- Equipment & processing plant
Eligibility
- JORC / NI 43-101 compliant reserve statement
- Valid mining licence and environmental permits
- Definitive feasibility study
- Offtake or hedging strategy
Use of proceeds
- Mine development
- Processing & concentrator plants
- Mobile equipment fleets
- Pre-export and offtake finance
Typical covenants
- Reserve tail of at least 30%
- Minimum LLCR 1.40x
- Mandatory cash sweep above price thresholds
- Rehabilitation bond maintained
Draw schedule
Milestone-based draws certified by the independent technical expert.
Indicative term sheet
Indicative terms — Mining Finance
- Borrower
- [Mining Co.] Ltd.
- Amount
- Up to USD 60,000,000
- Tenor
- 8 years
- Pricing
- SOFR + 4.50% (indicative)
- Fees
- Arrangement 2.0%
- Security
- Mining licence mortgage, plant and offtake receivables
- Repayment
- Quarterly after 18-month grace; 50% excess cash sweep
Selected transactions · Mining
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