Jones Day is representing Japan Bank for International Cooperation ("JBIC"); The Bank of Tokyo-Mitsubishi UFJ, Ltd., as lender and administrative agent; Sumitomo Mitsui Banking Corporation; and Mizuho Bank, Ltd., as lenders, in connection with a US$500 million syndicated credit facility for Minera Escondida Limitada ("MEL"), a Chilean mining company and operator of the largest copper mine in the world, jointly owned by BHP Billiton Ltd., The Rio Tinto Corporation plc, and JECO Corporation/JECO 2 Ltd. (consortia lead by Mitsubishi Corporation). The credit facility consists of a US$300 million JBIC tranche and a US$200 million commercial bank tranche. The proceeds of the financing will be used for the construction of a new sea water desalination facility, the life extension of an existing concentrator and production of copper concentrate and cathode for export to Japan and elsewhere.

For additional information about this matter, please contact: Richard P. Puttré, Kaoru Umino
Client(s): Japan Bank for International Cooperation, The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Practice(s): Projects & Infrastructure
Office(s): Tokyo, Miami