Norilsk Nickel announces that upon completing all preceding loan granting conditions, on May 12, Bystrinskoye LLC received the first tranche as part of the credit line for the implementation of Bystrinsky Mining and Processing Works construction project in Trans-Baikal region. On May 5, Bystrinskoye LLC and Sberbank of Russia signed a loan agreement, whereby the bank provided the project financing for a total amount of $800 million for a term of eight years.

According to Sergey Malyshev, senior vice president of Norilsk Nickel, “The company, as we stated before, has now fully secured the Bystrinsky GOK project with external credit resources in order to launch the project on time and on budget, which significantly increases the return on capital for investors and shareholders, and does not affect the parent company’s creditworthiness for creditors and debt instruments investors”.

Bystrinskoye deposit is one of the world’s top-ten largest copper deposits. The project implementation is strategically important for the company’s business activities and the country’s economy in general: thus, the construction of a world-standard mining and processing plant will create over 3 thousand new jobs and accelerate the region development. (Norilsk Nickel/Ukrainian metal)

Leave a Reply