Financing
Risk Management
EPC
Offtake
Regulatory
100

Uncommitted funding

Although Mozal has a proposed financing structure, significant equity remains unidentified and none of the lenders has formally committed financing.

100

Political interference

Political interference

100

Construction delays

Construction delays

100

Unconpracted production

Unconpracted production

100

Loss of tax concessions

Loss of tax concessions

200

Construction cost overruns

The project's $1.365 billion budget could prove insufficient if construction costs exceed estimates or completion is delayed.

200

Aluminium price volatility

Mozal's revenues depend on market aluminum prices, which have experienced significant fluctuations. What condition could IFC impose to protect its investment against this risk?

200

Failure to achieve completion

Failure to achieve completion

200

Offtaker default

Offtaker default

200

Permitting or environmental noncompliance

Permitting or environmental noncompliance

300

Insufficient debt-service coverage

Mozal's ability to service its debt could deteriorate if operating cash flows fall below projections.

300

Multiple adverse events

Multiple adverse events

300

Diversion of sales proceeds

Diversion of sales proceeds

300

Weak legal enforceability

Weak legal enforceability

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