China in South and Central America

Cuba

• The ideological alliance of China and Cuba has led to a slew of Chinese investment in the Caribbean country. One of the most important is a $500 million deal by MinMetals to finish building a nickel mine abandoned by the Soviets. The project, of which MinMetals owns 49% and Cuban producer Cubaniquel owns 51%, will be financed by the China Development Bank and guarantees will be provided by Sinosure, the Chinese Export and Credit Insurance Corporation.

Cuba Transition Project. "China Cuba ties report." Havana Journal 2 June 2006.

• The Chinese have also invested considerable funds in Cuba especially into the joint activities of Cuba Petroleum (CUPET) and the Chinese state-owned firm SINOPEC in the exploration and drilling of offshore oil deposits.

Cuba Transition Project. "China Cuba ties report." Havana Journal 2 June 2006.

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