VEB.RF, VTB to give $2.3 bln to Russian Platinum for Chernogorskoye

MOSCOW, Dec 30 (PRIME) -- State development corporation VEB.RF and VTB Bank will provide a U.S. $2.3 billion loan to Russian Platinum to develop the Chernogorskoye non-ferrous and precious metals deposit, VEB.RF said in a statement on Thursday.

The company will spend the funds to build the first stage of a copper and nickel ore enrichment facility on the base of the deposit in the Krasnoyarsk Region.

The total project cost is estimated at about $3 billion and the capacity at 7 million tonnes of ore per year. The launch of the facility is scheduled for 2024.

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