Signing of acquisition finance for the copper mining projects in Chile

Sep. 1. 2009
Marubeni Corporation

We are pleased to announce that Marubeni LP Holding B.V. (“MLPH”), a 100% owned subsidiary of Marubeni Corporation, signed the loan agreement of the USD650 million limited-recourse financing (“Acquisition Finance”) in relation to the acquisition of 30% equity interests in Minera Esperanza and Minera El Tesoro (“Acquisition”) on 31 August 2009.

The Acquisition Finance took the form of co-financing between Japan Bank for International Cooperation (“JBIC”)  and three Japanese commercial banks namely, Sumitomo Mitsui Banking Corporation, Mizuho Corporate Bank and The Bank of Tokyo-Mitsubishi UFJ.  Japan Oil, Gas and Metals National Corporation provided a guarantee to cover comprehensive project risks for a portion of the loan provided by the commercial banks.  Through this Acquisition Finance, Marubeni has transferred part of the project risks related to the Acquisition to the parties involved in this Acquisition Finance.  For the arrangement of this Acquisition Finance, The Royal Bank of Scotland plc and Mizuho Corporate Bank acted as co-financial advisors to Marubeni Corporation.

Through the Acquisition executed on 24 April 2008, Marubeni Corporation, via MLPH, acquired 30% equity interests in Minera Esperanza which will produce copper concentrate and Minera El Tesoro which produces copper cathode by way of solvent extraction – electrowinning technology.  Both projects are located in the Sierra Gorda district in Chile’s II Region (about 160km north-east of Antofagasta City) and are operated by Antofagasta plc (“Antofagasta”), a world leading copper mining company.

Marubeni Corporation intends to continue developments in the Sierra Gorda district in Chile’s II Region jointly with Antofagasta and expects to further contribute to securing the supply of copper to Japan.

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