Norilsk Nickel has been issued the first tranche of loan for development of Bystrinsky GOK

Norilsk Nickel calls the project of the Bystrinsky GOK to be of strategic importance for its business and economy of Russia in general. Norilsk Nickel announces that after the execution of all preliminary conditions for the issue on May 12th, “Bystrinskoe” mining company was issued the first tranche of the loan for the construction of the Bystrinsky GOK in the Trans-Baikal region. Bystrinsky mining company and Sberbank signed an agreement on the issue of the project financing for the total amount of $800 mln for 8 years. Now the project has enough funds to be launched on time, on budget, which significantly exceeds the return of capital for shareholders and doesn’t influence on the credit ability of the head company, chief Vice-President of Norilsk Nickel, S. Malyshev, said. The Bystrinsky deposit is in the top-10 largest copper deposits in the world. The project’s realization is of strategic importance for the company’s business and economy of Russia in general: the construction of the mining and processing plant of world level will allow to found over 3,000 working places and will become the catalyst of the region’s development.