On June 30, 1999, Rio Algom Limited, Noranda Inc. and Teck Corporation announced that Compañia Minera Antamina S.A. (CMA) had signed documentation for US$1.32 billion in project financing for the Antamina Copper-Zinc Project in Peru. The financing was the largest ever for a greenfield mining project.

Rio Algom (33.75% owner of CMA) provided guarantees on a pro-rata basis of secured senior project financing by syndicates of international commercial banks and a group of international import/export credit agencies and subordinated debt financing to CMA for its Antamina Project.

Bruce Blain and Ralph Glass advised Rio Algom and CMA with respect to this financing.