China Eximbank loans $76 million USD for Phase 1 of Ichimpe Copper and Cobalt Mine Project (Linked to #30154)
Adjusted commitment amount
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Industry, mining, construction (Code: 320)
Level of public liability
In May 2011, privately-held Zhonghui Mining Group invested $690 million USD in the Ichimpe Copper and Cobalt Mine Project (see project #30154). In the same year, China Eximbank reportedly loaned $76 million USD for Phase 1 of the same project. Zambian President Rupiah Banda attended a groundbreaking ceremony for the project on May 18, 2011 and the project was planned to be operational in 2014. Upon completion, the mine was expected to produce 35,000 tons of copper and 2,000 tons of cobalt per annum. However, the project was plagued by accusations of corruption and it appears to have been cancelled.
Number of official sources
Number of total sources
Direct receiving agencies [Type]
Zhonghui Mining Group [Private Sector]
Implementing agencies [Type]
Government of Zambia [Government Agency]