September 1, 2009

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JOGMEC Provides Liability Guarantee for Copper Mining Development in Chile

Japan Oil, Gas & Metals National Corporation (JOGMEC, President: Hirobumi Kawano), hasdecided to provide a liability guarantee for an acquisition of a 30 % interest in Esperanza and El
Tesoro mining projects, which had been acquired from Antofagasta Plc (Chile) in April 2008 byMarubeni Corporation (Marubeni, CEO: Teruo Asada; a wholly owned Dutch subsidiary
Marubeni LP Holding B.V. is in charge of the investment).
Approximately 61 billion yen out of Marubeni’s acquisition of the interest will be financed ｂｙa syndicated loan from Japan Bank for International Cooperation (JBIC) and private financial
institutions.

JOGMEC will guarantee 80 % (approx.15 billion yen) of approx. 18.5 billion yen tobe financed by private financial institutions.
JOGMEC has considered that the acquisition by Marubeni should greatly contribute toensuring a steady copper supply in Japan to have a significant effect on securing resources, andjudged that the mining developments should be appropriate both in technical and economicalterms.
The Esperanza copper mining project is scheduled to commence in 2010.
mine is expected to produce 700,000 tonnes of copper concentrates annually.

This large

Approximately

300,000 tonnes of concentrates are anticipated to be supplied to Japan’s smelters, whichamount to 6 percent of Japanese copper imports.

JOGMEC expects that the project would

take a vital role as one of supply bases for copper in our country.

JOGMEC, therefore, hasdecided to provide a support for steady progress of the project in cooperation with JBIC. Such
activity is considered as an achievement of the Japanese government’s policies for securing
mineral resources.

With the aim of ensuring consistent supply of mineral resources, JOGMEC

plans to actively provide further support for Japanese companies promoting mining activities.

1■ Outline of Project1)

Location of mines (see the attached)
Approx. 170 km north-east of Antofagasta (provincial capital) in II the Region in Chile2) Mine data
① Esperanza
Ownership: Antofagasta plc

70 %Marubeni LP Holding B.V. 30%
Reserves: sulphide ore 480 million tonnes (Cu: 0.57%, Au: 0.22g/ton)Capacity: copper concentrate approx. 700,000 tonnes/year (payable copper approx. 210,000 tonnes/year)
Production started: 4th quarter of 2010 (scheduled)
Mine life: 39 years② El Tesoro
Ownership: Antofagasta plc

70 %Marubeni LP Holding B.V. 30%
Reserves: oxide ore 127 million tonnes (0.80% Cu)
Capacity: 908,000 tonnes (copper cathode) in 2008
Production started: 2001
Mine life: 18 years3) Profile of company
MARUBENI LP HOLDING B.V.
Established: 6 February 1997
Head office: Amsterdam, Netherlands
CEO: Hajime Ichiki
Capital: US$727 million
Shareholder structure: 100% owned by Marubeni Corporation
Business: Investment in copper and molybdenum mines in Chile

Antofagasta plc
Established: 1888
Head office: London, UK
Chairman: J-P Luksic
Capital: US$289 million
Shareholder structure: Listed on the UK Stock Market (the following founders are major shareholders holding morethan 60 %: E.Abaroa Foundation, Alliance Bernstein, Jean Paul Luksic Fontbona)Business ：Mining and production of copper concentrate/bullion, transport, water industry
2Attachment
70°

69°

68°

67°
21°

21°

I REGION
CHILE

Salar deAscotanRio Loa

Cta. Loa

BOLIVIA

Quillagua
Co de la Mica
Mar Chileno

El Abra

Co Posada

22°

S IE R R A

TOCOPILLA

Vn Sn Pedroy Sn Pablo

Aiquina Toconce

Chuquicamata
MariaElena

Chiuchiu

Mic hilla

Salar deMiraje

Michilla

23°

Cerro
MorenoCaspana

CALAMAEl LoaCo Vireira

SierraGorda

Bahia
Mejillones

Pta. Angamos

22°

E l T es oro

MOR E NOMejillones

San Pedro deAtacama

Pampa
Union

MantosBlancos

Baquedano

Vn Lascar

Lomas
Bayas

Co Puripica

Salar deAtacama

TROPICO DE CAPRICORNIO

Bahia Moreno

23°

Toconao

SocaireANTOFAGASTAPeine
C OR DIL L E R A

DELAS ALCo Pingopingo
24°

24°

Zaldivar

Co Tres Tetas

Co Pular

La Escondida
Salar dePta. Negra

Mar Chileno

25°

25°

PaposoARGENTINATALTAL

Qda. Taltal

DE S IE R TO

DESierra Gorda Area
（Esperanza, El Tesoro）

AT A C A MAPunta
San Pedro

70°

69°

68°

67°

III REGION

3