Otkritie FC Bk opens 21 bln rbl loan to UMMC for Yubileinoye mine

MOSCOW, Mar 25 (PRIME) -- Russia’s Otkritie Financial Corporation (FC) Bank has signed an agreement to open a 21 billion ruble 10-year loan to Ural Mining and Metallurgical Company (UMMC-Holding) for construction of an underground mine at the Yubileinoye copper field, the bank said in a statement on Monday.

“Bank Otkritie will issue a 21 billion ruble loan to UMMC-Holding for 10 years. The funds will be allocated to finance construction of an underground mine of the UMMC group at the Yubileinoye field,” the statement read.

(63.7705 rubles – U.S. $1)

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