KGHM concludes loan agreement with banks for USD 500 mln for Sierra Gorda mine
KGHM Polska Miedź has secured a $500 million revolving syndicated loan to support the Sierra Gorda mine in Chile. This funding will refinance existing debts and provide additional resources for investment and operational stability. KGHM, holding a 55% stake in the mine, will guarantee up to $275 million. The leading banks in the consortium include Banco Santander and The Bank of Nova Scotia, with others like ING and HSBC also involved.
The loan will enhance Sierra Gorda’s financial liquidity and support its eco-friendly operations, which use seawater and renewable energy. KGHM, listed on the Warsaw Stock Exchange, reported PLN 33.47 billion in revenues for 2023.
