Natixis CIB Arranges $375M Financing for El Espino Copper-Gold Mine in Chile
- Editor
- Feb 5
- 2 min read
What's Happening: Natixis Corporate & Investment Banking has closed a $375 million senior-secured project financing for the construction of the El Espino copper-gold mine in Chile. The project is owned by a joint venture between Sociedad Punta del Cobre S.A. (Pucobre) and Resource Capital Funds (RCF).
The Key Moves:
The financing will support the construction of a mid-sized open-pit copper-gold mine operation and associated facilities.
El Espino is expected to produce an average of 26,000 tons of copper and 13,000 ounces of gold annually over an 18-year lifespan.
The project is progressing well, with significant participation from local labor and companies in the Coquimbo region.
By The Numbers :
$375 million: Total senior-secured project financing arranged by Natixis CIB.
26,000 tons: Expected average annual copper production from El Espino.
18 years: Projected useful life of the El Espino mine.
Key Quotes:
"This is an important step for the El Espino project, which is progressing at a very good pace, with significant participation of the Coquimbo region's labor and companies," said Pucobre CEO Sebastian Rios.
"We are extremely happy about our existing partnership with Pucobre developing El Espino and the progress that the project is showing so far," said Martin Valdes, Head of Private Equity of RCF.
"Natixis CIB has a proven track record of financing copper mining developments in Latin America, and this transaction contributes to reinforcing our regional and sectorial leadership position," said Adam Hendley, Global Head of Metals & Mining at Natixis CIB.
The Bottom Line: The successful financing of El Espino demonstrates Natixis CIB's commitment to supporting strategic mining projects in Latin America. The deal aligns with the bank's efforts to support global energy transition and digitalization trends, for which copper is essential. This project is expected to contribute significantly to Chile's copper and gold production over the next two decades.
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