Overview

CDB provides $1.365 billion loan to China Niobium Investment Holdings Limited for acquisition of minority stake in Companhia Brasileira de Metalurgia e Mineracao

Commitments (Constant USD, 2023)$1,479,411,344

Commitment Year•2012Country of Activity•BrazilDirect Recipient Country of Incorporation•Hong Kong (China)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

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 Policy Banks

China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

China Niobium Investment Holdings Limited

Loan desecription

CDB provides $1.365 billion loan to China Niobium Investment Holdings Limited for acquisition of minority stake in Companhia Brasileira de Metalurgia e Mineracao

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2012, the Hong Kong Branch of China Development Bank (CDB) provided a $1.365 billion loan to China Niobium Investment Holdings Limited — a joint venture invested by a consortium consisting of 5 Chinese SOEs (CITIC Group, Anshan Iron & Steel Group Corporation, Baosteel Group Co., Ltd., Shougang Corporation and Taiyuan Iron & Steel (Group) Co., Ltd.) — for the acquisition of a minority stake in Companhia Brasileira de Metalurgia e Mineracao (CBMM), a privately held Brazilian miner of niobium.