Papua New Guinea
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Trafigura puts $100M into K92 Mining

This will include offtake arrangements for the copper and gold concentrates produced at Kainantu.

K92 says it expects first drawdown to occur in early to mid-fourth quarter of 2023.

"The goan is at the corporate-level and may be used for general corporate purposes, working capital purposes, and capital expenditures. No hedging is required and it further strengthens K92's strong financial position, with US$95.6 million and no debt as at June 30, 2023," K92 said in a news release.

K92 CEO John Lewins said he was pleased that the partnership with Trafigura was being extended.

"Trafigura has been our offtake partner since the start of operations at Kainantu, and these agreements reinforce our strong relationship with Trafigura," Lewins said.

The full announcement may be found at K92 Mining's website.