Maharlika Investment Corp. (MIC), the country’s sovereign wealth fund manager, said it signed a binding term sheet to provide a $76.4-million bridge loan
Maharlika Investment Corp. president and chief executive Rafael Consing and Makilala Mining president Julito Sarmiento shake hands after the signing a $76.4-million loan agreement to fund the early development of the Maalinao-Caigutan-Biyog Copper-Gold Project in Kalinga province. Source: Australian EmbassyMaharlika Investment Corp. , the country’s sovereign wealth fund manager, said it signed a binding term sheet to provide a $76.4-million bridge loan to Makilala Mining Company Inc.
MIC president and chief executive Rafael Consing Jr. said the MCB Project aligns with the fund’s mandate to drive economic growth and sustainable development. Makilala Mining president Julito Sarmiento said the move demonstrates the government’s strong support for responsible mining in the critical metals sector.
“Australia is happy to partner with the Philippines in this important area, bringing our expertise in sustainable, community-based mining to support responsible and long-term growth,” Yu said.
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