June 13, 2017 |
The Japan Bank for International Cooperation (JBIC) said it committed up to $300m to a $500m loan to expand the Escondida copper mine in northern Chile.
Three other Japanese banks – Mizuho, MUFG and SMBC – provided the rest of the financing, JBIC said in a statement.
Minera Escondida will use the proceeds to fund expansion plans at the world's largest copper mine. The loan is expected to increase production capacity of copper concentrate in the second half of the year, JBIC said.
The four len
Japanese lenders Mizuho, MUFG and SMBC join the $500m facility to expand the Chilean copper mine