CDB, NFC, MBC signs agreement for NFC to acquire 50% of Ozernoe Zinc Deposit
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Russia
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On March 22, 2013, the China Development Bank, China Nonferrous Metal Industry's (NFC), and Russian MBC Corporation signed an agreement for NFC to acquire 50% of the Ozernoe Zinc deposit in Eastern Siberia. The exact system of financing is unclear, especially in regards CDB's role, which has been described by media outlets as having the "possibility of financing the construction." Various estimates for the project place the cost between $1.1 billion and $1.5 billion, but do not specify the amount of NFC's investment. The Ozernoe deposit is located in the Republic of Buryatia. The deposit has a reserve balance of 1156 MT of ore with 5.2% Zinc and 1% PB and 3.5 thousand tons of silver.
Number of official sources
6
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
MBC Corporation LLC [Private Sector]
Implementing agencies [Type]
China Nonferrous Metal Mining (Group) Co., Ltd. (CNMC) [State-owned Company]