Chinese Bank Grants $650M Loan To S. African Platinum Co.

Law360, New York (January 22, 2013, 5:32 PM EST) -- The China Development Bank has agreed to sign over a $650 million loan to South African miner Wesizwe Platinum Ltd. earmarked to support the company's flagship Bakubung platinum project in the northwestern part of the country, Wesizwe said Monday.

As part of the loan agreement, signed in November, the Chinese bank also agreed to provide two short-term $100 million loans. The smaller chunks will be refunded by part of the heftier long-term loan, but were doled out separately in December.

Wesizwe expects to finalize contracts tied...
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