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Chinese Bank Lends to Mines in Tibet



23. Mar 2009
(Xinhua) The state-controlled Bank of China (BOC) has granted 650 million yuan (UK66.68m; US$95.17m; EUR71.58m) of credit loans to a local company in order to exploit multi-metal mines in the Tibet Autonomous Region (TAR). The Huatailong Mining Company, based in Lhasa, will use the money to develop multi-metal mines in Gyama village. Huatailong mining company is a subsidiary of the China National Gold Group Corporation, a large-scale state-owned enterprise.

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