Polish Copper Co. Takes $1B Loan To Finance Chile Mine

Law360, New York (March 8, 2012, 1:36 PM EST) -- A subsidiary of Polish copper producer KGHM Polska Miedz SA will take $1 billion in debt from a group of Japanese banks to finance its Sierra Gorda mining project in Chile, the company said Thursday.

The loan will be taken by Sierra Gorda SCM, which is majority-owned by Quadra FNX Mining Ltd., a Canadian company that KGHM recently bought for $3 billion.

Mining at Sierra Gorda is expected to begin in 2014 and produce 220,000 tons of copper annually for at least 20 years, which would...
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