[THE INVESTOR] KB Asset Management announced on Oct. 18 that it will jointly invest US$30 million in senior loans to Canadian mine developers with three homegrown institutional investors.
KB Asset Management will create the fund and its Canadian counterpart Sprott, with a specialty in natural resources investing, will manage the portfolio.
This is the first time a South Korean investor is financing overseas mining.
The investment period is five years and the expected annual rate of return is 8 percent.
By Hwang You-mee (glamazon@heraldcorp.com)