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Metalloinvest inks deal with Crédit Agricole to fund project at Lebedinsky GOK

Wednesday, 13 June 2018 17:41:14 (GMT+3)   |   Istanbul
       

Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, has announced that it has signed long-term credit facility agreement with Paris-headquartered Crédit Agricole Corporate and Investment Bank for funding of an investment project at its subsidiary Lebedinsky GOK.

The company stated that the 12-year funds worth €72 million will be used to purchase equipment from Germany-based TAKRAF GmbH, a part of Italian engineering group Tenova, for the construction of a cyclical and continuous transportation system for the open pit mine at Lebedinsky GOK.

According to Metalloinvest, the project anticipates operational efficiency improvement of open pit development and a decrease in production costs of iron ore concentrate.


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