Skip to content
AidData logo

Overview

China Construction Bank provides $100 million loan for Chambishi Copper Smelter Construction Project

Commitments (Constant USD, 2023)$140,844,608
Commitment Year•2008Country of Activity•ZambiaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2008
Start (actual)
Nov 1, 2006
End (actual)
Dec 1, 2008
Last repayment (originally scheduled)
Dec 31, 2010

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

Chambishi Copper Smelter Limited was responsible for the construction and operation of the Chambishi Copper Smelter. More detailed locational information can be found at https://www.openstreetmap.org/way/251021938

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

State-owned companies

  • China Nonferrous Mining Corporation Limited

Implementing agencies

Joint Venture/Special Purpose Vehicles

  • Chambishi Copper Smelter Limited

Loan description

China Construction Bank provides $100 million loan for Chambishi Copper Smelter Construction Project

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In 2008, China Construction Bank provided a $100 million loan to China Nonferrous Mining Corporation Limited (CNMC) for the Chambishi Copper Smelter Construction Project. The loan carried a 3-year maturity, but its other borrowing terms are unknown. Chambishi Copper Smelter Limited (CCS) was responsible for the construction and operation of the Chambishi Copper Smelter. The construction of the smelter began in November 2006 and was completed in December 2008. Commercial production of blister copper commenced in February 2009. Then, in 2010, CCS launched a smelter expansion project. In the first quarter of 2024, the Chambishi Copper Smelter cut one-fifth of its production due to power shortages in Zambia.

Staff comments

1. The Chinese project title is 谦比希铜冶炼厂. 2. It is unclear if CNMC on-lent the proceeds of the CCB loan to Chambishi Copper Smelter Limited (赞比亚谦比希铜冶炼有限公司), a special purpose vehicle and joint venture of CNMC (60% equity stake) and Yunnan Copper Group (40% equity stake). This issue warrants further investigation.