Antofagasta, Marubeni Seek Mining Financing

Chilean miner Antofagasta and Japan’s Marubeni are seeking to raise roughly $2bn in ECA financing through JBIC, according to a banker close to the transaction. The funds, which could reach tenors of up to 10 years depending on the needs of the mining projects, would be destined for copper exploration. The companies are heard to be in discussions to establish their exact funding needs for a joint project.