Compania Minera Mantos de Oro

With the support of MIGA's $49.8 million reinsurance agreement with the Export Development Corporation of Canada, Canadian-based Placer Dome, Inc., one of the world's leading gold producers, will develop a $335 million gold and silver mining joint venture in Chile. The construction of the new mine will increase Chile's gold production and create an additional 350 jobs. Protection is provided for a $250 million loan guaranty against the risks of currency transfer, expropriation and war and civil disturbance over its seven-year term.