black cables with copper

    Raw materials

    We finance mining projects for the extraction of important raw materials for German and European industry, such as copper or iron ore.

    Financing case: Centinela copper mine in Chile

    KfW IPEX-Bank is participating in the expansion of the Minera Centinela copper project. The copper mine, which is 70% owned by Antofagasta, is located about 1,350 kilometres north of Santiago.

    Project profile:

    • Project finance with a total volume of USD 2.5 billion
    • Credit facility with a term of approximately 12 years
    • Consortium consisting of KfW IPEX-Bank, Japan Bank for International Cooperation, Export Development Canada, the Export-Import Bank of Korea, Crédit Agricole Corporate and Investment Bank, Natixis Corporate & Investment Banking, Societe Generale and Sumitomo Mitsui Banking Corporation with Euler Hermes as cover provider
    • Antofagasta plc (70%) and Marubeni Corporation (30%)
    • Planned annual production: 144,000 t copper in addition to status quo
    • Use of 100% renewable energy sources to meet electricity demand
    • Innovative use of seawater for water supply to the production process

    Contribution of KfW IPEX-Bank:

    • Financing share of USD 150 million
    • Senior Lender, MLA & Untied Loan Agent

    Electromobility drives demand for copper

    In addition to its traditional uses, future demand for copper will be driven in particular by the emerging electric vehicle market on account of the metal’s conductivity. In the car industry, copper is used in both electric motors and charging cables for electric vehicles.