Lima acts as the source of mining capital
THE EAGERNESS OF global financiers to fund Brazilian mining company Companhia Vale do Rio Doce in its $18 billion takeover of Canadian nickel producer Inco is a sign of the times. A commodity boom sparked by China’s rapid economic growth is fuelling the development of new mines and mining acquisitions in Latin America and, in turn, the bank loans and capital markets deals to finance them.
Last month, Brazilian iron ore producer CVRD issued the biggest-ever global bond by a Latin American entity.
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