Manila, Feb. 25 -- The Maharlika Investment Corporation (MIC) signed a binding term sheet to provide a USD76.4 million Bridge Loan for the early development of the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project.

In a statement on Monday, the MIC said the amount will be used for the updating of Makilala Mining's feasibility study and front-end engineering design, the construction of a main access road in partnership with the Kalinga provincial government, and skills-based training for the Balatoc Indigenous Cultural Community.

Makilala Mining, an affiliate of Celsius Resources Limited-listed on the Australian Securities Exchange and London Stock Exchange-will also use the loan to fulfill financial capability requirements under its Min...