On November 21, in Hanoi, Vietnam Export Import Bank-Eximbank has entered into an agreement to finance for Vinacomin - Minerals Holding Corporation to execute the project of expansion and capacity improvement of the Sin Quyen copper mine, Lao Cai, for the amount of VND1,500 billion. Such amount will be disbursed over 10 years.

With the total investment of VND1,300 billion, Sin Quyen Lao Cai copper complex is Viet Nam's single complete line of exploitation, processing and metallurgy which was put into operation since 2006. This line produces fine copper ores, copper cathode 99.95%, gold, silver, and fine iron ores.

With the total investment of VND1,300 billion, Sin Quyen Lao Cai copper complex is Viet Nam's single complete line of exploitation, processing and metallurgy which was put into operation since 2006. This line produces fine copper ores, copper cathode 99.95%, gold, silver, and fine iron ores.

According to a representative of Vinacomin, after recognizing the effectiveness of this project, the corporation has decided to invest to expand and improve the capacity of Sin Quyen copper mine, Lao Cai in the upcoming time. Vinacomin said that the total investment for this project is VND2,600 billion, including its own capital and borrowings from Eximbank. The project is expected to come into operation by late 2015. Then, the scale of the complex will be 2.4 times greater than the current complex in terms of production output. This is the core project of Vinacomin in its 2011-2020 growth strategy.