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Sber and Gazprombank will provide a 195 billion rubles loan to the Russian Copper Company

The money will go to finance the project of the group for the development of the Malmyzhskoye copper deposit in the Khabarovsk Territory

At the Eastern Economic Forum, Sber, Gazprombank, and Russian Copper Company Group have signed a syndicated loan agreement for the financing of RCC’s project for the development of the Malmyzhskoye copper deposit in the Khabarovsk Territory.

The memorandum of cooperation was inked by Olga Kharlamova, Vice President, Director of the Key Clients Department of Sberbank, Alexey Belous, Deputy Chairman of the Management Board of Gazprombank and Maksim Shchibrik, Vice President, Chief Financial Officer of Russian Copper Company JSC. 

The financing for Amur Minerals (part of RCC Group) implements in an investment project for the development of the Malmyzhskoe copper deposit, as well as the construction of a mining and processing plant in the Khabarovsk Territory, consisting of four production lines with a total processing capacity of 90 million tons of ore per year.

Olga Kharlamova, Vice President, Director of the Key Clients Department of Sberbank:

«Sber and RCC have been cooperating effectively for many years, and we cheerfully support new partner’s projects, which are aimed both at increasing productivity and strengthening the group's position in the market, and at developing the copper industry as a whole. This project is the largest and most significant in the history of our relationship. The total amount of the syndicated loan is 195 billion rubles, of which 97.5 billion rubles - 50% of the total loan - will be provided by Sber. The project implementation will become a powerful driver behind regional economy development in the Khabarovsk Territory, increase Russian copper exports and create thousands of jobs, because the projected mining and processing plant will be the most potential in the country. We look forward to further development of relations with the group on new projects».


Malmyzhskoye is a world-class deposit. Based on the results of the exploration, its reserves are estimated at 8.32 million tons of copper and 347 tons of gold. The announced budget for the project is around 248 billion rubles. The financing will be carried out in the format of a multicurrency syndicated loan for a period of 12.5 years in the amount of 195 billion rubles.   

Alexey Belous, Deputy Chairman of the Management Board of Gazprombank:

«We have been cooperating closely with Russian Copper Company for 16 years. During this time, the Bank has financed a large number of transactions, among which I point out the largest projects of RCC - the construction of the Mikheevsky and Tominsky mining and processing plants. RCC is one of the largest borrowers of Gazprombank, and the Bank is the largest lender of the Group. We are pleased to take part in financing the development of the Malmyzhskoye copper deposit, a large project of strategic importance both for the Khabarovsk Territory and for the copper industry as a whole. We are on the threshold of a new stage in strengthening the country's economic security in the field of mining. Thanks to the experience of the teams of the initiator, as well as the participants of the syndicate, the Project was structured in the best possible way and, I believe, will be implemented as planned and within the established budget».

The implementation of the project will double the output of copper concentrate produced by the RCC Group. Amur Minerals will produce 1,4% of the world's total copper output. Currently, Russia produces and processes copper concentrate containing 900 thousand tons of copper, exported copper concentrate contains 60 thousand tons of copper. The implementation of the RCC project at the Malmyzhskoye deposit will increase the current production of copper in copper concentrate in Russia by almost 30%.

Maksim Shchibrik, Vice President, Chief Financial Officer of Russian Copper Company:

«The development of the Malmyzhskoye depost is RCC's contribution to the strengthening of the domestic nonferrous-metals industry and the development of the Russian Far East. This is the most ambitious project in the history of the company, which will make RCC is one of the leaders in the country's copper industry. We will apply advanced technologies from the world's leading suppliers and the successful experience acquired by RCC in the implementation of important mining projects. The participation in financing of the development of the Malmyzhskoye copper deposit by leading Russian banks confirms the high appraisal of the RCC Group's strategy and this is the result, which the company has gained over 17 years of development. Thanks to a syndicated loan from Sberbank and Gazprombank, our new joint project receives the necessary resources for implementation in order to achieve the target business indicators. This will ensure that the budgets of all levels and extra-budgetary funds will receive 297 billion rubles during the entire period of operation of the future mining enterprise».

As a reminder, the framework conditions for financing this project were signed during the Eastern Economic Forum in 2019. Now these conditions are detailed and corrected.

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