Last Updated :
24 March 2009 at 09:55 IST
China to go for multi-metal mines in Tibet
The state-controlled Bank of China (BOC) has granted 650 million yuan (95.17 million U.S. dollars) of credit loans to a local company for exploiting multi-metal mines in Tibet Autonomous Region, the bank said Monday.
The Huatailong mining company, based in the regional capital Lhasa, will use the money to develop multi-metal mines in Gyama village.
The amount of the loan is by far the largest in Tibet this year.
Huatailong mining company is a subsidiary under the China National
Gold Group Corporation, a large scale state-owned enterprise and the sole Chinese member of the World Gold Council.
Statistics show the BOC branch in Tibet has issued more than 4 billion yuan of credit loans since last year to support projects such as the section of the Qinghai-Tibet railway linking Xining and Golmud, and a mineral water enterprise, Tibet Glacier Mineral Water.
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