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Current Trends in Mining Finance – April 29 and 30, 2013 ECA, Multi-Lateral, DFI Financing

Current Trends in Mining Finance – April 29 and 30, 2013 ECA, Multi-Lateral, DFI Financing James Babbitt, Export Development Canada. Benefits of Export Credit Agency, Multi-lateral Financing. Capacity – Commercial banks may lack capacity particularly in developing markets

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Current Trends in Mining Finance – April 29 and 30, 2013 ECA, Multi-Lateral, DFI Financing

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  1. Current Trends in Mining Finance – April 29 and 30, 2013 ECA, Multi-Lateral, DFI Financing James Babbitt, Export Development Canada

  2. Benefits of Export Credit Agency, Multi-lateral Financing • Capacity – Commercial banks may lack capacity particularly in developing markets • Increasing capex for mining projects; significant development in emerging markets • Longer tenor in certain situations • “Political risk umbrella” – perceived benefit of having government/multi-lateral participation • May provide commercial and/or political risk coverage which could mobilize additional bank capacity • Certain Multi-Laterals may provide equity/early stage funding

  3. Export Development Canada (“EDC”) • Canada’s Export Credit Agency (“ECA”) • Crown corporation wholly owned by Government of Canada • Financially self-sustaining • Operates on commercial principles • Acts as a direct lender • Certain ECAs may provide a guarantee to commercial financial institutions • Adopted Equator Principles 2007 • IFC Performance Standards

  4. Criteria for EDC Support • EDC’s mandate to support Canadian exports and foreign investments • Export of goods and services • Contracts with Canadian suppliers • Canadian content in contracts with foreign suppliers • Canadian foreign direct investment by Canadian company • Not just a Canadian incorporated company • Level of senior management within Canada • Canadian involvement on Board of Directors • Canadian operations • Under certain circumstances can consider domestic financings

  5. Other ECA/DFI Support • Other ECAs • Procurement of goods and services • Certain ECAs may also support projects based on import of certain key commodities • Multi-Lateral lending agencies • Development mandate in emerging economies • Often restricted geographically

  6. EDC Tombstones: Multi-Sourced Financings

  7. Contact James Babbitt Sr. Project Finance Manager Mining, Metals & Resources Tel: (613) 597-8617 e-mail: jbabbitt@edc.ca Export Development Canada 150 Slater Street Ottawa, ON Canada K1A 1K3 www.edc.ca

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