Japan Backs Chilean Copper Mine With $600M Loan

Law360, New York (December 18, 2012, 6:29 PM EST) -- Japan's development bank and three private banks will lend $600 million to the world's biggest copper mine, Chile's Escondida, which is owned by BHP Billiton Ltd., Rio Tinto PLC and two Japanese consortiums led by Mitsubishi Corp., the state bank announced Tuesday.

The Japan Bank for International Cooperation has committed about $420 million to Minera Escondida Ltda., the company developing the massive Chilean mine, in an effort to expedite its expansion. Mizuho Corporate Bank Ltd., Sumitomo Mitsui Banking Corp. and The Bank of Tokyo-Mitsubishi UFJ Ltd....
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