Polymetal to borrow in Russia for Kazakhstan project.
Edited by Rhod Mackenzie / 2015-10-08 06:24:35
Finance Kazakhstan Kazakhstan mineral extraction Metals and mining Russia Russia mineral extraction Kazakhstan Metals and Mining Russia Metals and Mining Polymetal Gold
The company plans to develop "Kyzyl" for loans from Russian banks.
Gold mining Polymetal discusses with VTB and Sberbank financing of Bakyrchik and Bolshevik deposits mining in Kazakhstan (the "Kyzyl" project). The company expects that the banks will be able to provide funds half the cost of the project, which is estimated at $ 375 million, and, in contrast to Western creditors, will not require collateral, hedging of exchange rates and gold prices. But analysts warn the bankers will require higher margins for it.
