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Overview

China Development Bank provides a $100 million CAD loan to Yunnan Chihong Zinc and Germanium Co., Ltd for the establishment of a joint venture with Selwyn Resources Ltd. for the construction of a zinc-lead mining project in the Yukon territory

Commitments (Constant USD, 2023)$124,801,821
Commitment Year•2010Country of Activity•CanadaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2010
End (planned)
Jan 1, 2022

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

State-owned companies

  • Yunnan Chihong Zinc and Germanium Company Limited

Implementing agencies

Private Sector

  • Selwyn Chihong Mining Ltd.

Loan description

China Development Bank provides a $100 million CAD loan to Yunnan Chihong Zinc and Germanium Co., Ltd for the establishment of a joint venture with Selwyn Resources Ltd. for the construction of a zinc-lead mining project in the Yukon territory

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, China Development Bank (CDB) provided a $100 million CAD loan to Yunnan Chihong Zinc and Germanium Co., Ltd (Yunnan Chihong) for the establishment of a joint venture with Selwyn Resources Ltd. and the development of the Selwyn lead-zinc mining project in the eastern Yukon territory. The terms of the loan are unknown. The joint venture, established by Yunnan Chihong, a fully integrated zinc-lead mining and smelting company based in Yunnan Province in southern China, through its Canadian subsidiary Chihong Canadian Mining Inc., was originally a 50-50 partnership between Chihong Canadian Mining Inc. and Selwyn Resources Ltd. The joint venture was originally named Selwyn Chihong Mining Ltd. In 2013, Yunnan Chihong bought Selwyn Resources Ltd. out of the project, taking full control of the joint venture and the mining site. Chihong Canadian Mining Inc. was subsequently renamed to Selwyn Chihong Mining Ltd. CDB provided the loan to advance the project to bankable feasibility and to complete the permitting process. Construction of the Selwyn lead-zing mining project was forecasted by the Wilson Center to begin in 2022.

Staff comments

1. The implementing agency, Selwyn Chihong Mining Ltd., is coded as in the recipient country because at the time it was 50% owned by a Canadian entity. 2. According to Mining Data Online, the mining project is currently suspended.