SOUTHERN PEAKS RECEIVES LINE OF EQUITY FROM BARCLAYS FOR PROPERTY ACQUISITIONS - PERU, REGIONAL

Lima-based startup company Southern Peaks Mining has received a line of equity financing from Barclays Natural Resource Investment (BNRI) to assist with the acquisition of polymetallic and gold properties mainly in Peru but also potentially elsewhere in the region, president and CEO Adolfo Vera told BNamericas.

Vera said Southern Peaks is in the process of negotiating the acquisition of four polymetallic mines and one gold unit in Peru, and is also reviewing a gold property in Colombia and a polymetallic target in Chile.

He added that the partnership with BNRI will not only provide Southern Peaks access to equity financing, but also the experience of the BNRI team and their advisory panel.

Vera was unable to say how much the line of equity is worth. However, BNRI reports on its website that it typically commits US$50mn-100mn to each management team for their business plan.

BNRI is a unit of Barclays Capital, the investment banking division of Barclays Bank.

Source: Business News Americas - Latin America's Business Information Leader