The Export-Import Bank of Korea  on February 28 renewed a three-year loan facility  amounting to USD300 million with Trafigura . The Facility was Coordinated by Banco Santander,  and Co-financed with DBS Bank.

Trafigura is a major supplier of vital resources, including battery metals, as a market leader in the global commodities industry. The Facility will support the company to provide a stable supply of critical minerals to customers in South Korea.

Andrew Starkey, Chief Financial Officer, Asia Pacific for Trafigura, commented: “We are delighted that KEXIM has renewed this facility with Trafigura. The battery metals market is complex and rapidly evolving amidst shifting geopolitical dynamics. Trafigura’s expertise, global reach and extensive supply chain capabilities uniquely positions us to provide South Korean industrial companies with secure access to critical minerals such as cobalt, copper and lithium.”

The Facility was initially put in place in December 2021 and subsequently upsized in May 2023. Its renewal underscores the continued support and recognition of Trafigura’s role in global supply chains, securing the procurement of critical mineral resources to support economic development.