ANNOUNCEMENT 26 Nov 2012
On 26 November 2012, JBIC announced signing two overseas investment loan agreements with Mitsui & Co., Ltd.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 26 November 2012, Loan for Caserones Copper Mine Project in Chile: http://www.jbic.go.jp/en/information/press/press-2012/1126-7483
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreements between JBIC and the Japanese company Mitsui & Co., Ltd. have a value of USD 217.4 million and up to USD 117 million respectively.
The loan finances the Japanese company's loans and investments in the Caserones Copper Mine Development Project in Chile through one of its subsidiaries. The project is undertaken by SCM Minera Lumina Copper Chile, a joint venture between Japanese-owned Pan-Pacific Copper Co., Ltd. and Mitsui.
In this context, the Bank explained that: "Copper concentrates produced in this project are expected to be 150,000 tons per year in terms of metal content, which will be delivered to PPC (Pan-Pacific Copper Co., Ltd. ed.) and Mitsui, and supplied to domestic smelters." and continued to state: "JBIC will continue to support the development and acquisition of interests in natural resources that are strategically important for Japan by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.JBIC already financed this project in July 2011, see related measure."
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.