 Additionally, to optimize mining efficiency and secure additional tonnage at the site, MMB has been working closely on updating the geological model and mine design in cooperation with SRK and AAI.With respect to the project financing, a portion of MMB’s 2010 project financing facilities (the “2010 Project Financing”) provided by the Export‐Import Bank of the United States (“US EXIM”) to MMB has been renegotiated under Korean leadership.In September 2010, US EXIM, the largest lender in the 2010 Project Financing, agreed to provide MMB with an approximately US$419 million loan facility for the construction and development of the Boleo project (the “Original US EXIM Facility”).