Russian banker Sberbank has approved a $US800M credit facility over 8 years to finance construction of Norilsk Nickel's Bystrinskiy mining and concentration complex in Zabaykalsky Kray.
Norilsk CFO Sergey Malyshev says the Sberbank project financing deal is without recourse to the miner, and builds on their close cooperation over several years. The company aims to begin production in 2017 at its proposed 10Mtpa copper-gold-iron project.