In 2016, Norilsk Nickel invests in the Bystrinskyproject 40 billion rubles

07 Sep 2016
According to Elena Bezdenezhnykh, Vice President of Norilsk Nickel, in 2016, Norilsk Nickel is going to invest in the Bystrinskyproject40 billion rubles. The company continues to raise borrowed funds, for example, in Sberbank of Russia. Another source of financing will be funds received from the sale of shares in the project to Chinese investors. “The sales value of the project is more than $ 1 billion. Therefore, Norilsk Nickel, which has invested so far more than 40 billion rubles, and is going to invest about 40 billion rubles more in 2016, planning to raise borrowed funds from institutions such as Sberbank of Russia and other leading Russian banks, raising Chinese funds and investing them in the capital, has created for itself an additional safety cushion and minimize marketing risks.” – said Elena Bezdenezhnykh. In July, Norilsk Nickel sold 10.67% of the Bystrinsky projectto Highland Fund (China). In the future, Chinese investors can act not only as shareholders, but also as industrial partners of Bystrinsky, signing off-take contract for its products. As reported, in April Sberbank CIB opened a credit line for a total amount of $ 800 million for a period of 8 years to finance construction of Bystrinskymining and processing complex (GOK). Norilsk Nickel scheduled to put BystrinskyGOK into operation in the 4th quarter of 2017. The processing plant, havingcapacity of 10 million tons BystrinskyGOK can produce 66 thousand tons of copper concentrate, 3.1 million tons of iron-ore concentrate and 219 thousand ounces of gold concentrate. Life of the Bystrinsky deposit is more than 30 years.
Source: Uncommercial joint ownership "Trans-regional Association  of precious metals producers"