11 May 2004 10:08
Polymetal raises $23 mln
MOSCOW. May 11 (Interfax) - St. Petersburg-based precious metals corporation MNPO Polymetal has signed an agreement
raising $23 million from a syndicate of international banks.
Standard Bank London organized and is the agent for the short-term secured pre-export loan, which will be offered at
Libor plus 4.5% for one year.
The money raised will be used to finance production of precious metals and direct exports of gold and silver produced
by ZAO Serebro Magadan (Dukat deposit) and Serebro Territorii (Lunnoye deposit). Polymetal received a license to export
gold and silver in March 2004. It has signed contracts to export about 200 tonnes of silver and 600 kg of gold.
MNPO Polymetal, founded in 1998, is Russia's biggest silver producer and one of the country's top ten gold
mining companies, with 16 licenses to precious metals deposits. [RU ASIA EUROPE EEU EMRG LOA BNK WEU GB MIN GDM GOL TRD
CORA RES] me
[Interfax] |
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