Minera Los Pelambres

MIGA guaranteed Marubeni LP Holding B.V. of the Netherlands for its investment in a copper and molybdenum mine in Chile. The $31.3 million guarantee covers the investment against the risk of expropriation.

The project, located approximately 200 kilometers north of Santiago, involves the expansion of the enterprise from an underground to an open-pit mine, which will significantly increase ore production from 5,500 to 85,000 tons per day. The project will create approximately 274 permanent jobs (5,000 during construction) and will help to boost the local economy by using local materials for construction and operation (amounting to approximately $700 million). It will also improve local infrastructure by constructing new roads, a port facility, and a power plant.