Japan funds RI copper mine<\/p>\n
TOKYO (AFP): Japan's Export-Import Bank said yesterday it
\nwould join nine Japanese commercial banks in financing a copper
\nmine project in Indonesia with loans totalling US$500
\nmillion.<\/p>\n
"The loan for the project is expected to contribute to the
\neconomic development of Indonesia and benefit Japan through the
\nimport of copper," the bank said in a statement.<\/p>\n
The nine commercial banks participating in providing loans are
\nthe Bank of Tokyo-Mitsubishi Ltd., Sumitomo Bank Ltd., Sakura
\nBank Ltd., Sumitomo Trust Banking Co. Ltd., Industrial Bank of
\nJapan Ltd., Mitsui Trust and Banking Co. Ltd., Dai-Ichi Kangyo
\nBank Ltd., and Fuji Bank Ltd.<\/p>\n
The copper mine project, scheduled to begin in 2000, is held
\nby three companies, Japanese trading house Sumitomo Corp., U.S
\nNewmont Gold Co., and Indonesian enterprise P.T. Pukuafu Indah,
\nthe bank said.<\/p>\n
The three companies said average output from the project would
\nreach 730, 000 tons of copper concentrate with plans to continue
\nmining until 2020.<\/p>\n
Japan ranks second in the consumption of copper with 1.5
\nmillion tons a year, the bank said. Indonesia is the second
\nlargest exporter of copper to Japan after Chile.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/japan-funds-ri-copper-mine-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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