Mine/priisk Ust-kara May engage in VTB up to 550 million Rubles

31 May 2016

Mine/ priisk Ust-Kara OJSC intends to engage loans totaling up to 550 million rubles in VTB, as said in the message of the enterprise. The company will consider the approval of loan transactions at the general annual meeting on June 28 (the list of members compiled under the register records as of May 30). Mine/ priisk Ust-Kara hopes to engage up to 300 million rubles for a period not exceeding five years at a rate not exceeding 20% per annum for financing of the costs for technical re-equipment, including the introduction of new technologies of extraction of precious metals and also exploration. Another 250 million rubles for the period not exceeding one year at a rate not exceeding 20% per annum, in particular, for the acquisition of fixed assets and consumables, salary (including season of the previous year) and field allowances, taxes and obligatory payments, and also for direct expenses /costs related to participation in tenders (auctions) for the subsurface rights. In addition, the meeting agenda includes standard issues.

Sourсe: Gold Mining Manufacturers' Reporter gold.1prime.ru