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Maharlika to provide $76.4 million loan for Kalinga mining project

Summary by ABS-CBN
The Maharlika Investment Corp will provide a $76.4 million (P4.425 billion) loan to a gold and copper mining project in Kalinga province.

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Maharlika to provide $76.4 million loan for Kalinga mining project

The Maharlika Investment Corp will provide a $76.4 million (P4.425 billion) loan to a gold and copper mining project in Kalinga province.

·Quezon City, Philippines
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PressenzaPressenza

Calling on the Maharlika Investment Corporation to Withdraw its Support for Destructive Large-scale Mining Projects

The Philippine Misereor Partnership Inc. (PMPI) challenges the Maharlika Investment Corporation’s (MIC) blatant and incomprehensible move to fund a loan agreement favoring a gold and copper mining project in Kalinga province. The MIC was created through R.A 11954 or the Maharlika Investment Fund Act of 2023 supposedly to support the Philippines’ economic growth and sustainable development goals. Despite its supposed goal, MIC chooses to invest i…

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TFDTFD

MIC To Provide USD76.4 Million Bridge Loan To Launch Copper-Gold Project

Maharlika Investment Corporation (MIC), the Philippines’ sovereign wealth fund manager, has signed a binding term sheet to provide a USD 76.4 million bridge loan to Makilala Mining Company, Inc. (Makilala Mining) to initiate early development works for the Maalinao-Caigutan-Biyog Copper-Gold Project (MCB Project) in the province of Kalinga. MIC President and Chief Executive Officer Rafael D. Consing, Jr. leads the signing of the USD 76.4 million…

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TFD broke the news in on Monday, February 24, 2025.
Sources are mostly out of (0)

Similar News Topics

Gold

Gold

Kalinga

Kalinga

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