The financial institutions of South Korea, Japan and Germany will reportedly join forces on a two-point-five billion dollar loan to support a Chilean copper mine project.
According to Japan’s Nikkei News on Sunday, the government-affiliated financial institutions of the three nations and other lenders will provide a loan for the project at the Centinela mine, which is operated by United Kingdom-headquartered Antofagasta and Japanese trading house Marubeni.
The Japan Bank for International Cooperation will reportedly provide 950 million dollars for the project, which will expand the copper mine and construct a plant.
Other lenders include the financial institutions of South Korea, Germany and Export Development Canada, Japan’s Sumitomo Mitsui Banking Corporation and France’s Credit Agricole.
Nikkei said the loan is expected to support a production capacity increase of about 140-thousand tons at the mine from the current annual production of 250-thousand tons.