VEB.RF has provided the first tranche to finance development of the design documentation on the Tomtor rare-earth metals deposit.
The loan agreements between VEB.RF, Vostoc Engineering and Krasnokamensk Hydrometallurgical Works were concluded in September.
The total amount of the loan is 1.5 billion rubles.
The Tomtor deposit is situated in the Republic of Sakha and is considered one of the largest in the world. (Ukrainian metal)