Russian Copper Company receives $2,66 billion loan for development of Malmyzhskoye copper deposit

Malmyzhskoye deposit. Photo: today KHV

One of the record loans in the Russian mining sector has been recently provided to Russian Copper Company, a leading local copper producer, for the development of the Malmyzhskoye deposit.


The loan in the amount of 195 billion rubles (US$2,66 billion) was provided to the company by Russia’s largest banks - Gazprombank and SberBank.


An agreement was reached during the Eastern Economic Forum, one of Russias’s most important annual business events and involves the development of the Malmyzhskoye copper deposit in the Khabarovsk Territory.


Based on the results of exploration studies, the field has reserves of 8.32 million tons of copper.


The declared budget for the project is about 248 billion rubles.

By: Eugen Gerden