Loan to Rincon Mining Pty Limited in Australia
Australia, March 12 -- The Japan Bank for International Cooperation (JBIC) signed on March 10 a loan agreement amounting to up to USD1,175 million, of which JBIC's portion is USD240 million, with Rincon Mining Pty Limited (Rincon Mining) in Australia. The loan is co-financed with private financial institutions including Citibank, N.A., Tokyo Branch (agent bank), and Mizuho Bank, Ltd., as well as the International Finance Corporation (IFC) a member of the World Bank Group, Export Finance Australia (EFA), and the Inter-American Investment Corporation (IDB Invest). JBIC will provide a partial guarantee for the co-financed portion extended by the private financial institutions. Rincon Mining, a subsidiary of Rio Tinto plc (Rio Tinto), is a comp...
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