Minera Valle Central obtains financing for its expansionAugust 24, 2017, by Raevathi Supramanium - LATIN LAWYER
Carey has helped copper exploration and mining company Minera Valle Central obtain a loan from Export Development Canada and BBVA for US$35 million.
Larraín y Asociados advised the banks.
The funds will be used finance the expansion of Minera Valle Central’s processing plant within the El Teniente copper mine, which is operated by state-owned mining company Codelco.
Both banks supplied Minera Valle Central with a US$64 million loan back in 2015. Careyhelped the borrower amend security documents granted for that financing in line with the new finance package.
The deal closed on 3 August.
Counsel to Minera Valle Central
Partner Felipe Moro and associates Patricia Montt and Valentina Vizcay
Counsel to Export Development Canada and BBVA
Larraín y Asociados
Partner Patricio Montes and associates Diego Garay and Diego Kother