China Development Bank contributes to $329 million loan to CRCC to acquire Corriente Resources Inc. and gain rights to the Mirador Copper Mine (Linked to Record ID#64616, #100712, #100713)

Project narrative

In 2010, a Chinese bank syndicate (consisting of China Development Bank, Bank of China, and Agricultural Bank of China) provided a $329 million, 2-year loan to CRCC-Tongguan Investment (Canada) Co., Ltd. to acquire approximately 96.9% of Corriente Resources Inc. and thereby gain rights to the Mirador Copper Mine. On May 31, 2010, CRCC Tongguan Investment (Canada) Co., Ltd., acquired 76,478,495 Common Shares of Corriente, representing approximately 96.9% of the Common Shares. Record ID#64615 captures the estimated financial commitment of China Development Bank, Record ID#100712 captures the estimated financial commitment of Bank of China, and Record ID#100713 captures the estimated financial commitment of Agricultural Bank of China. The Mirador Copper Mine project was undertaken by China Gezhouba Group Corporation (CGGC) No.2 Engineering Company and it was located in Zamora-Chinchipe Province. The project was initiated on December 21, 2015. It was completed on July 18, 2019. The Mirador copper deposit is located along the valley of the Rio Zamora in Zamora-Chinchipe Province. Its exact locational coordinates are 03°34'N latitude and 78°26'W. The project has created around 3,000 jobs for the area.