China Development Bank possibly to co-finance Ozerny Mining and Processing Plant Construction

The visit reasserts and extends the agreements reached by the MBC Corporation and MCC in July of this year. As reported earlier, during the summer visit by MCC Overseas (an MCC subsidiary) representatives to Moscow and Ozernoye deposit in Buryatia, the Russian and Chinese parties signed an agreement on cooperation and a zinc and lead concentrate off-take agreement. Also, the Chinese company expressed its interest in partnering with the MBC Corporation in the Ozerny GOK project.

The meeting between the head of the MBC Corporation and China Development Bank representatives (MCC top managers also attended) discussed the organizational issues of financing the construction of the Ozerny mining and processing plant.

This event is of great importance to the development of the Ozerny GOK, opening up new opportunities: technology, investment, partnerships, etc. Besides, the successful negotiations with the Chinese party provide additional advantage in potential sales of the produce of the Ozerny GOK in the Chinese market.