Kimkano-Sutarsky Mining and Processing Works has signed an agreement with Gazprombank on borrowing $240 million for 8 years.
The funds will be spent to develop the Sutarskoye deposit in the Jewish Autonomous Region with the design capacity of 3.2 million tons of iron ore concentrate per year.
KSGOK is developing two deposits with the consolidated reserves of some 650 million tons of iron ore with the Fe content of 32-33%. The Kimkanskoye deposit is operating, while the Sutarskoye is in the design stage. (Ukrainian metal)