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KBC arranges finance for African copper producer
01 November 2001
Recognizing good trade finance opportunities is rarely easy in sub-Saharan Africa. But in this deal, KBC Bank has worked long and hard to originate a solid base with a local corporate and structure a secure package to suit the client's needs. Jonathan Bell explores the territory.
Read more:
finance
trade
trade finance
ECA
structured trade finance
KBC Bank's Global Trade Finance Group (GTFG) has completed a $14.25
million structured trade finance facility for First Quantum
Minerals wholly owned Zambian copper mining subsidiary Bwana Mkubwa
Mining (Bwana Mkubwa). The deal demonstrates how the bank is able
to use its particular expertise in structured trade financing and
in a market and region where many other banks, because of lack of
understanding, fear to tread.
Proceeds under the facility have been used to consolidate Bwana
Mkubwa's existing term debt while the balance is being used to
expand the Bwana Mkubwa plant and to exploit and develop the nearby
Lonshi copper deposit located within the Democratic Republic of
Congo ? DRC ? (formerly Zaire), for processing at the Bwana Mkubwa
plant at Ndola in Zambia. The copper belt in this region of Africa
runs along the border of Zambia and the DRC, and in this instance
it is viable to move the Lonshi copper ore...
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