Italian mining firm Coeclerici has received a US$57.8mn loan partly covered by Sace to expand activities in Indonesia.

The loan was provided by European banks including Italy’s Carige, and 50%-guaranteed by Sace. The Italian export credit agency was unable to reveal the tenor or the names of other banks involved in the deal when contacted by GTR.

The facility will allow Coeclerici to partly finance the purchase of four floating transfer stations to trans-ship coal from the East Kalimantan mines (Borneo) to large ocean-going vessels at anchor, under a 10-year service contract with Indonesian coal exporter Berau Coal.

This is the second time in the last two years where Sace has supported the expansion of Coeclerici in emerging markets, after a 50% guarantee on a US$90mn loan for the purchase of two trans-shipper vessels operating in Mozambique for Brazilian mining corporation Vale.