Funds for expansion Chilean miner Mantos Copper has signed an agreement to acquire a total of $250 million with the aim to invest the funds in its Mantos Blancos mine.
"Mantos has entered into a US$250 million financing package including a US$150 million offtake facility with Complejo Metalurgico Altonorte S.A., and a US$25 million agreement with a subsidiary of Osisko Gold Royal-ties Ltd … to upsize an existing silver stream agreement," Anglo Pacific Group said in a statement.
Anglo Pacific Group released the statement in relation to its agreement with a subsidiary of Mantos Copper under which it acquired a 1.525% Net Smelter Return royalty over all copper produced at the Mantos Blancos mine in exchange for US$50.25 million.
The Mantos Blancos mine is an open pit operation located in Chile, pro-ducing copper with silver by-products.