Caserones Copper Mine Development Project
- Area: Latin America and the Caribbean
- Energy and Natural Resources
- [Project Finance]
||Develop the Caserones copper mine in Chile, and produce and sell copper concentrates, copper cathode, and molybdenum.
||SCM Minera Lumina Copper Chile incorporated in Chile
||III Region, Republic of Chile
||July 26, 2011
||Pan-Pacific Copper Co., Ltd. (PPC), Mitsui & Co., Ltd. (Mitsui)
|Related Japanese Companies
||JX Nippon Mining & Metals Corporation, Mitsui Mining & Smelting Co., Ltd., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited
|Total Cofinancing Amount
||1,400 million US dollars
|JBIC Loan Amount
||770 million US dollars
- Copper is used extensively for various products, including electric cables, electrical and electronic equipment, transport vehicles and construction materials, making it an indispensable metal for Japanese industry. Japan relies solely on imports for copper concentrates from Chile and other countries. Copper concentrates produced in this project (150,000 tons per year in the first ten years in terms of metal content) will be delivered to PPC and Mitsui, and supplied to domestic smelters. This project is expected to meet about 11% of Japan's annual demand for copper concentrates.
- This is the first project in which Japanese companies with wholly-owned interests in a large-scale copper mine is undertaking its development. This project is significant as it enables Japanese companies to accumulate experience in overseas copper mine development to train mining experts of Japanese companies.