KfW IPEX-Bank to co-finance Antucoya copper mine project in Chile

Frankfurt am Main (ots) -

- USD 70 million loan for modern raw materials project
- German company to export plant technology to Chile
- Environmental and social protection mechanisms and monitoring in
accordance with recognised international standards

KfW IPEX-Bank will be supporting the Antucoya copper mine project
in Northern Chile with a loan of USD 70 million. The project sponsors
- the London-listed Chilean mining company Antofagasta plc and the
Japanese trading company Marubeni Corporation - are planning to build
and operate an opencast copper mine. German equipment will be used
for the project infrastructure and the downstream production of
copper cathodes. Total project costs amount to around USD 1.9
billion. KfW IPEX-Bank's involvement will be as part of a syndicate
of six other international banks and two export credit and bilateral
agencies.

Markus Scheer, member of the Management Board of KfW IPEX-Bank,
commented as follows on the successful signing: "Global demand for
copper is set to rise further in the next few years. German
specialist firms such as TAKRAF which will be shipping major
components of the project to Chile can benefit from this growth. As a
bank, we provide support to German exporters in global markets". The
Leipzig-based mechanical engineering company has signed an EPC
contract (Engineering, Procurement, and Construction) with Minera
Antucoya through its local distribution company, TAKRAF Chile S.p.A.,
for the turnkey supply of key components for the transport, handling
and processing of copper ore. The value of the goods to be supplied
will be in the three-digit million dollar range.

The Antucoya project is located in the uninhabited desert region
around 125 kilometres north-east of the port of Antofagasta in
Northern Chile. After extensive environmental and social studies
based on recognised international standards, the Chilean authorities
gave the necessary go-ahead for the project in mid-2011. Various
protection mechanisms and continuous monitoring were agreed with the
authorities and the financing banks as part of the environmental
impact study. The facilities will be run using sea water pumped
through an existing pipeline used by Antofagasta plc's Esperanza
copper project which is situated nearby in order to protect the
region's scarce groundwater resources.

KfW IPEX-Bank and the Antofagasta Group have a long history of
working together: the Antucoya project is already Antofagasta's
fourth copper project co-financed by KfW/KfW IPEX-Bank.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Thomas.Krick@kfw.de
Tel. 069 7431-2961, Fax: 069 7431-8454, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de