RUSSIAN POTASH producer Silvinit has reached an agreement with Russian bank Sberbank for credit lines totalling $1,515 billion for five years, the two companies said in a press release earlier this week. Silvinit said it would use the credit facilities to refinance short-term debt of its subsidiary Kamskaya Mining Company. The subsidiary was set up to develop the Polodovodsky potassium-magnesium sector, the largest of three sectors of the Verkhnekamskoe deposit it won the mining rights to at auction in March 2008.
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