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Showing posts from August 8, 2010

Bauxite Mining in Vietnam

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According to Reuters News

http://economictimes.indiatimes.com/news/international-business/Citi-lends-Vietnam-200-mn-for-bauxite-complex/articleshow/5796550.cms

" Citibank has signed a $200 million loan agreement with Vietnam's top coal miner, Vinacomin, to help it develop a bauxite complex.....


The 13-year credit deal was signed in Washington on Monday and witnessed by Vietnam's Prime Minister Nguyen Tan Dung who was attending the nuclear security summit, the government said in a statement.


It gave no further details on the terms of the credit. State-run Vietnam National Coal-Mineral Industries Group has been building two bauxite mining and processing complexes in the Central Highlands coffee belt that have attracted the attention of critics worried about Chinese involvement and possible environmental damage.


The construction of a $460 million aluminium plant at one of the sites has been awarded to Chalieco, a subsidiary of China's state-run aluminium firm Chinalco. V…