Polyus Gold looks for funds for Natalka deposit in China

On the background of the world price fall for gold Polyus Gold of S. Kerimov has started to look for funds for its main project – the Natalka deposit where it has already invested $1.3 bln – in China. On the unofficial data, the company is negotiating with banks and companies which are offered to join the project. But the final parameters of the project and the total investment volume are not clear that might delay the discussion of the financing conditions with China.

The largest Russia gold producer, Polyus Gold (S. Kerimov holds 40.2%) is negotiating with Chinese investors on the financing of the development of the Natalka deposit, sources of Bloomberg reported. Sources of Kommersant close to the company and in the market confirmed this information. According to them, the negotiations are at the early stage and are held simultaneously with a few potential investors and banks. Various forms of funds attracting are discussed – from the project financing to the sale of a minority stake in the Natalka project. The executive secretary of the Russian-Chinese chamber on mechanic-technical and innovation production trade facilitation, S. Sanakoev, is aware of the fact of the negotiations. He showed confidence that investors who are interested in the offer of Polyus Gold will be found in China. Representatives of the company and Mr. Kerimov refused to comment.