Polymetal secures VTB Bank investment for Siberian gold project

摘要

London—Russian miner Polymetal has secured up to $35 million for development of a 2.8 million oz gold greenfield project in Siberia by inviting VTB Bank to be a co-owner of the deposit. VTB, Russia’s second-largest bank, will spend $36 million on buying the stakes (a combined 25.7%) of minority shareholders in Polymetal subsidiary Amikan, which fully owns the Veduga gold greenfield in Krasnoyarsk Krai, eastern Siberia.