Korea Eximbank to Lend $1 Billion to Glencore for Copper Supply

Export-Import Bank of Korea will lend $1 billion to commodities giant Glencore Plc in exchange for copper supply to South Korean companies, as the country seeks to secure raw materials needed for the artificial intelligence boom.

By Youkyung Lee

Korea Eximbank lends Glencore $1b to secure copper

The Export-Import Bank of Korea said Monday it would provide $1 billion in financing to Swiss commodities giant Glencore in return for a stable supply of copper to Korean companies. Glencore operates mines and smelters that produce copper, zinc and nickel worldwide. Its trading network handles more than 60 commodities through long-term relationships with thousands of customers and suppliers. The financing will support Glencore’s general corporate operations, while the company will supply copper

By The Korea Herald

South Korea’s Eximbank backs Glencore with $1B loan to secure copper for AI