Sberbank and Gazprombank will make a loan to RCC for 195 billion rubles

SVERDLOVSK REGION

 

Sberbank and Gazprombank will provide a multicurrency syndicated loan for 195 billion rubles to the Russian Copper Company for 12.5 years. The loan memorandum was signed during the Eastern Economic Forum.

 

As RusBusinessNews has been informed by the RCC Information Policy Department, the funds will be channeled into financing of the project for development of the Malmyzhskoe copper deposit in the Khabarovsk Territory and for building of the ore mining and processing plant with four production lines operating at a total processing capacity of 90 million tons of ore a year.

 

The reserves at the Malmyzhskoe deposit are estimated at 8.32 million tons of copper and 347 tons of gold. The estimated total investment cost is around 248 billion rubles. The implementation of the project will double the output of copper concentrate produced by the RCC Group.