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Polymetal says Sberbank to finance Kazakh gold project

Reuters - UK Focus

ASTANA, June 15 (Reuters) - Russia's Polymetal plans to borrow $350 million from Sberbank to finance the development of its Kazakh gold field Kyzyl, chief executive Vitaly Nesis told reporters in Astana on Wednesday.

"We have reached an agreement in principle with Sberbank on project finance for about $350 million, this is long money, about six years," Nesis said. (Reporting by Raushan Nurshayeva; Writing by Olzhas Auyezov; Ediitng by Dmitry Solovyov)