On November 2, Zijin Mining (02899.HK) announced that the company provided a joint and several liability guarantee for the application of its holding subsidiary Sai Zi copper to the Paris branch of the Export-Import Bank of China for a loan with a total amount of not more than US$68 million, with a guarantee period of no more than one year. As of the date of the announcement, the balance of the company's guarantee for Sai Copper was $400 million.
At the same time, the company provides joint and several liability guarantees for the holding subsidiary Malipo Tungsten Industry to apply for a loan totaling not more than 500 million yuan from Zijin Mining Group Finance Co., Ltd. (the company holds 95% of the equity), and the guarantee period is not more than three years. As of the date of the announcement, the balance of the guarantee provided by the Company to Malipo Tungsten was RMB443 million.
This article originated from Grand Gateway
![Referring to financing guarantees for three consecutive months, the SASAC has drawn a red line for central enterprises: the total guarantee scale does not exceed 40% of the group's total assets.[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)