Cerro de Pasco Resources Enters Project Development Funding Agreement with U.S. International Development Finance Corporation for Quiulacocha

Core Insights - Cerro de Pasco Resources Inc. has entered into a Project Development Funding Agreement with the U.S. International Development Finance Corporation to support the Quiulacocha Tailings Reprocessing Project in Peru [1][2] Funding Details - DFC will provide up to US$5 million in milestone-based funding for project development activities, with the potential for an additional US$300 million in long-term direct loan financing for construction, subject to various conditions [2][4] - The funding will support activities such as Sonic Drilling, Geotechnical and Hydrogeological Drilling, a Feasibility Study, and an Environmental and Social Impact Assessment [4][5] Project Significance - Quiulacocha is recognized as one of the largest historic tailings resources globally, targeting the recovery of silver, base metals, gallium, and indium, which are essential for advanced technologies [3][6] - The project aligns with the strengthened cooperation between the United States and Peru regarding secure and responsible mineral supply chains [7] Company Strategy - Cerro de Pasco Resources focuses on reprocessing and remediating historic mining waste to unlock value while promoting environmental sustainability [8]