Loading grant details…
China Merchants Bank provides $120 million loan for Luilu Copper and Cobalt Tailings Facility Project
| Funder | China Merchants Bank Co., Ltd. |
|---|---|
| Recipient Organization | Hong Kong Excellent Mining Investment Luilu Resource Co., Limited |
| Country | Democratic Republic of the Congo |
| Start Date | Jan 01, 2020 |
| End Date | Jun 15, 2029 |
| Duration | 3,453 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 102973 |
Grant Description
China Merchants Bank provides $120 million loan for Luilu Copper and Cobalt Tailings Facility Project In 2020, China Merchants Bank and Hong Kong Excellen Mining Investment Luilu Resource Co., Limited — a wholly-owned subsidiary of Shanghai Putailai New Energy Technology Co., Ltd. — signed a $120 million loan agreement for the Luilu Copper and Cobalt Tailings Facility Project.
However, it is known that the purpose of the project was to construct a copper and cobalt tailings facility in the town of Luilu and the county of Mutshatsha.
CINF Engineering Corporation Limited – a state-owned company and wholly-owned subsidiary of China Aluminum International Engineering Co., Ltd (CHALIECO) – is the contractor responsible for project design.
It signed a project design contract with Hong Kong Excellen Mining Investment Luilu Resource Co., Limited on March 15, 2020. The project was originally scheduled to reach completion and be put into operation in March 2021. However, the project’s precise commencement and completion dates are unknown.
Staff Comments
- The Chinese project title is 刚果民主共和国LUILU铜钴矿项目.
- Shanghai Putailai New Energy Technology Co., Ltd. is a China-based company principally engaged in the research, development, production and sale of new energy lithium-ion battery materials and process equipment.
Sources & References
- 刘正一
- 安胜矿业与长沙有色院签订刚果（金）铜钴项目设计合同
- Jun CHENG
- 程 军
- Kamoto Mine
- Hong Kong Excellen Mining signs designing contract on DRC Copper Cobalt Project with CINF
- Hong Kong Excellen Mining signs designing contract on DRC Copper Cobalt Project with CINF
- 刘正一
- Hydrometallurgical project of 40,000t/a cathode copper and 7,000t/a metallic cobalt equivalent crude cobaltous hydroxide of LuiLu Resources SAS of Excellen Mining
- CINF Performance
- Luilu Resources SAS
- Luilu Ressources Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Hong Kong Excellent Mining Investment Luilu Resource Co., Limited
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
