Sberbank to finance projects of Highland Gold Mining
Edited by Rhod Mackenzie / 2013-10-09 05:43:00
The Moscow branch of the Russian Sberbank and Highland Gold Mining have signed a cooperation agreement. In particular, within the agreement the bank opened a non-revolving credit facility to the amount of $100 million for 3 years for the Novo-Shirokinsky mine. The funds will be used for the financing of the company’s current activity. Enterprises of the group Highland Gold Mining also started payroll card programs with Russian Sberbank.
The Novo-Shirokinsky mine became a part of Highland Gold Mining in 2002. The enterprise develops a polymetallic deposit of the same name (the Trans-Baikal region).