Thursday, November 30, 2023
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Bolivia awaits credit from Chinese bank to industrialize zinc

La Paz, Oct 31 (Prensa Latina) Bolivia is waiting for a loan from the China Eximbank for 350 million dollars for the construction of a zinc refining plant in Oruro, after the delivery of the corresponding documentation by government authorities.

The Minister of Mining and Metallurgy, Marcelino Quispe, and the manager of the Vinto Metallurgical Company, Teodocio Ayllón, delivered the documents to representatives of the bank on Monday.

The protocols will be evaluated by the Chinese side and then an intergovernmental agreement will be signed before the signature of the loan contract.

According to Quispe, the contract will have a term of 20 years, with a two-percent concessional interest rate.

Sources from the Ministry of Mining and Metallurgy informed the press that the work must be carried out in 34 months. They reported too, that the file delivered includes the loan proposal, commercial contracts, and other documents that prove the legality and validity of the award process of this work.

The Zinc Refining Plant will be built on the premises of the Vinto Metallurgical Company and will have a treatment capacity of 150 thousand tons of concentrates, which will allow to obtain 65 thousand tons of zinc and byproducts annually.

From a socio-labor point of view, the complex will generate 800 direct (temporary) jobs, 500 direct permanent jobs, and two thousand indirect jobs during its construction stage.

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