TOKYO, Feb 12 - State-affiliated Japan Oil, Gas and Metals National Corp (JOGMEC) will provide 4.5 billion yen ($49.99 million) to two Japanese mining firms to be used for feasibility studies at Chile's Caserones copper project, it said on Thursday.
The funds will be provided to Nippon Mining & Metals Co Ltd and Mitsui Mining and Smelting Co Ltd (5706.T), which jointly set up Pan Pacific Co Ltd, a copper smelting and development firm that has been conducting studies at Caserones since it acquired mining concessions in 2006.
Nippon Mining is part of the Nippon Mining Holdings Inc (5016.T) group.
Pan Pacific said in September it was on track to begin output from the copper mine from 2012.
JOGMEC said the mine is expected to provide an annual average of 150,000 tonnes of copper and 3,000 tonnes of molybdenum over 26 years, helping to provide a stable supply of the metals to Japan.
The funds will be provided to Nippon Mining & Metals Co Ltd and Mitsui Mining and Smelting Co Ltd (5706.T), which jointly set up Pan Pacific Co Ltd, a copper smelting and development firm that has been conducting studies at Caserones since it acquired mining concessions in 2006.
Nippon Mining is part of the Nippon Mining Holdings Inc (5016.T) group.
Pan Pacific said in September it was on track to begin output from the copper mine from 2012.
JOGMEC said the mine is expected to provide an annual average of 150,000 tonnes of copper and 3,000 tonnes of molybdenum over 26 years, helping to provide a stable supply of the metals to Japan.
