China Nonferrous Metal Industry offers equipment and loan to Philippine Toledo copper mine

Funder	China (People's Republic of)
Recipient Organization	Philippines
Country	Philippines
Start Date	Dec 05, 2000
End Date	Nov 18, 2031
Duration	11,305 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`34458`

Grant Description

China Nonferrous Metal Industry offers equipment and loan to Philippine Toledo copper mine In February 2000, the China Nonferrous Metal Industry, a state-owned company, offered to facilitate the reopening of Toledo copper mine, the Philippines' largest. The proposed agreement included a grant of equipment, and a possible loan from the Bank of China for capital.

As payment for the loan, the Atlas Consolidated Mining & Development Corporation would supply copper to China Nonferrous Metal. 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.