PJSC MMC Norilsk Nickel announces that upon completing all preceding loan granting conditions, on May 12, GRK Bystrinskoye LLC received the first tranche as part of the credit line for the implementation of Bystrinsky GOK (Mining and Processing Plant) construction project in Trans-Baikal region. On May 5, GRK Bystrinskoye LLC and PJSC Sberbank of Russia signed a loan agreement, whereby the bank provided the project financing for a total amount of USD 800,000,000 for a term of eight years.
According to Sergey Malyshev, Senior Vice President of MMC 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 3000 new jobs and accelerate the region development.