Trafigura to pilot sustainable supply chain finance programme for Mexican mining companies with eFactor Network

Mexico, 14 December 2022 – Trafigura Pte Ltd (“Trafigura”), a market chief within the international commodities trade, in collaboration with eFactor Community and quite a lot of monetary establishments, are piloting a Sustainable Provide Chain Finance programme for mining corporations in Mexico.

The programme – the primary of its sort and offering a mannequin that may be scaled throughout the area – is structured to enhance mining corporations’ working capital while driving accountable sourcing practices alongside the metals worth chain.

By way of the programme, Trafigura’s suppliers of steel concentrates will obtain accelerated funds for merchandise utilizing eFactor’s digital factoring platform, while benefitting from a bespoke programme of site-based capability constructing on matters of worldwide significance, comparable to respect for safety and human rights.

The programme immediately enhances Trafigura’s present accountable sourcing due diligence efforts and can reply to dangers recognized inside the worth chain. Along with money circulation advantages, Trafigura and monetary establishments concerned will prolong improved monetary phrases, together with preferential rates of interest, as every firm’s Environmental, Social and Governance (ESG) efficiency improves. Initially the programme will drive alignment with the internationally recognised Voluntary Rules on Human Rights (VPSHR) which information companies on conduct their operations while respecting human rights. The VPSHR has vital significance in advanced working environments the place corporations try to construct trusted and harmonious relationships with native communities while guaranteeing that their safety suppliers respect human rights.

Progress in aligning with the necessities of the VPSHR can be formally assessed on an annual foundation by an impartial assurance supplier. A world monetary establishment will act as ESG Coordinator, working with Trafigura to make sure the robustness of the programme towards chosen key efficiency indicators.

“We drastically worth the collaboration with Trafigura and monetary establishments on this programme, which along with benefiting mining corporations and their suppliers with enticing financing situations, brings stability and transparency to the availability chains of a sector of nice significance for the Mexican economic system by incorporating ESG incentives,” stated Héctor de la Garza, CEO of eFactor Community.

“Trafigura is dedicated to working with the mining neighborhood throughout Latin America to supply commodities responsibly. This pilot programme gives a robust illustration of how totally different worth chain actors can, and should more and more collaborate to advertise good observe in a fancy working atmosphere,” stated Inigo Flores Piran, Trafigura’s Chief Monetary Officer for Latin America.

ENDS

For additional info please contact:
eFactor Community Workplace: Tel: 52 8182480800 or Electronic mail: ventas@efactornetwork.com
Trafigura Montevideo Press Workplace: Tel: +598 2518 8188 or Electronic mail: media@trafigura.com

About Trafigura
Based in 1993, Trafigura is among the largest bodily commodities buying and selling teams on the earth. On the coronary heart of worldwide provide, Trafigura connects the world with the important assets it wants. By way of our Oil & Petroleum Merchandise, Metals & Minerals, and Energy & Renewables divisions, we deploy infrastructure, abilities and a world community to maneuver commodities from the place they’re plentiful to the place they’re wanted most, forming sturdy relationships that make provide chains extra environment friendly, safe and sustainable.

Trafigura additionally owns and operates quite a lot of industrial property together with multi-metals producer Nyrstar and gasoline storage and distribution firm Puma Power; and joint ventures Impala Terminals, a port and logistics supplier, and Nala Renewables, an influence and renewable vitality funding and improvement platform. Trafigura is owned by its staff and employs over 12,000 individuals working in 61 international locations.

Go to: www.trafigura.com

About eFactor Community
eFactor Community is a Fintech firm, chief in working capital financing in Mexico, which helps massive buying organizations enhance their working capital by extending cost phrases with out rising the burden of their provide chain, in addition to its suppliers by giving the choice of acquiring an advance cost at enticing financing charges. It has alliances with improvement banks comparable to IFC World Financial institution, IDB Make investments, Bancomext and PrimeRevenue. After over a decade of operations, its community contains greater than 16,000 corporations, suppliers, bottomers and technological companions. eFactor operates in 20+ international locations the place they pay firm suppliers in numerous currencies and has granted 5 billion {dollars} by way of its platform.

Extra details about e-Issue community may be discovered at www.efactornetwork.com