Compania Minera Cerro Colorado S.A

MIGA's $5 million guarantee to this Canadian investor against the risks of currency transfer, expropriation, and war and civil disturbance will support Rio Algom's Cerro Colorado copper mine in Chile. The project involves a total investment of $280 million, of which 35 percent will be equity-financed by Rio Algom. The project will generate export earnings in excess of $1.5 billion and will employ 500 people. In addition to the guarantee to Rio Algom, MIGA has been asked to consider insuring the lenders to the project. The Overseas Private Investment Corporation (OPIC) of the United States and the Ministry of International Trade and Industry (MITI) of Japan are also supporting the project.