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3/14/17

Minera IRL in Peru's biznews

Following on from Friday's NR out of Minera IRL (MIRL), local press has asked the main players Cofide and the company on the decision to revoke the Cofide credit mandate and the report gives us more information. Here's the photo of the full version, in today's dead wood edition of Peru's top biznews media Gestión, below find a translation of the interesting bits:


"Asked about the revoke decision, Cofide explained to Gestión that the financial entity "has reoriented its strategy to become a development bank, giving priority to the financing of those sectors which generate high economic, social and environmental impact". It said that the focus of Cofide is now centred on closing the infrastructure gap and helping small and medium-sized businesses, in accordance with the current political policies and in coordination with the State Proinversion office and several ministries."

"Sector sources with ties to Minera IRL told Gestión that the company is evaluating proposals with two mining supply companies that may offer financing for the gold mining project. It is hoped that by the end of this month an agreement can be reached."