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Minera IRL Limited (BVL: MIRL), Lima, Peruvian gold producer, reported the latest advances in the arbitration led against the Corporacion Financiera de Desarrollo S.A. (COFIDE) in order to orderly pay back the US$70 million loan provided by the State bank for the development of Ollachea gold project (Puno) in 2015, which repayment term expired in 2017.

On that regard, it said that the Court of Arbitration of the Lima Chamber of Commerce has ordered that the precautionary measure awarded by the Lima Superior Court of Justice, restricting COFIDE from collecting the debt of its bridge loan, extends until the arbitration ends.

Minera IRL led a complaint on February 28th before the Court of Arbitration and is waiting for COFIDE’s answer.