MINERA TRES VALLES CLOSES US$ 45 MILLION DEAL WITH ANGLO AMERICAN
On Thursday, December 12th, the representatives from Anglo American in Chile and the CEO of Minera Tres Valles executed the last contract of the financial package corresponding to the secured loan of US$ 45 million, funds that were officially received on December 19th
The financial package was announced by Sprott Resource Holdings Inc. in August 2019, when the mandate letter with Anglo American Marketing Limited (“AAMLUK”) and GAM Kimura Commodity Trade Finance Fund Limited (“Kimura”) was executed. This deal will provide MTV an important investment amount that will be key in the development and expansion of the company.
Through this financing package, Minera Tres Valles will start the Inclined Block Caving project for its underground mine deposit, Papomono, as well as fund the final costs of the chloride media leaching project.
MTV’s CEO, Luis Vega Muñoz, highlighted that the closing of this financing package “will allow Minera Tres Valles to optimize its production and strengthen the operation, capturing the high potential that our project has. Nowadays, the medium mining industry in Chile plays an important role in the country’s economy, and projects like ours prove that it is possible to produce in a responsible way through maintaining strong community relations and making investments in optimizing its processes.”