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Trade Finance Corporation Ltd, Hong Kong, has arranged a US$10mn pre-export finance two-year term loan for Shanxi Xiangfen Non-ferrous Metal Industrial Co Ltd based in Linfen, Shanxi Province, China.

Xiangfen has constructed a zinc ingot production facility in three phases since 1997 up to a total capacity of 115,000 tons per year making it the fifth largest zinc producer in the Peoples “Republic but the largest privately-owned smelter.

Loan proceeds will be used to secure long-term raw material supplies and to complete the technical upgrade of phase three of the production.
The loan is without recourse to the offtaker, Tennant Metals Pty Ltd of Australia, who has signed a two-year offtake agreement to support the transaction.

Finance was provided by a European bank in Singapore.
TFC is a Hong Kong based arranger and facilitator of structured trade finance and project finance.