VTB Bank (Kazakhstan) and Kazakhmys Corporation LLP signed an agreement on the disbursement of a new tranche in the amount of 12 million USD within the established credit line. The Company will direct the funds received to working capital financing.
Kazakhmys is the largest copper producer in Kazakhstan and a leading international company in the extraction and processing of natural resources. The Corporation conducts prospecting, exploration, mining, enrichment, processing and export of copper and other minerals. The Bank has been cooperating with the Corporation since 2019; the first tranche under an open credit line in the amount of 15 million USD was promptly repaid in accordance with the terms of the agreement.
- Kazakhmys is one of the largest employers in Kazakhstan; the Company develops and modernizes a strategically important industry for the region. We are glad that we have the opportunity to take part in the development of socially significant projects implemented by the Corporation, which have a large-scale positive impact on the economy of the republic, - said Dmitry Zabello, Chairman of the Board of VTB Bank (Kazakhstan). - I am sure that the stable partnership of two international groups: VTB and Kazakhmys is a natural consequence of the coincidence of the global goals of the two organizations aimed at sustainable development of the country.
Kazakhmys Corporation LLP has a high production, scientific and technological potential, necessary energy and fuel resources, modern technological and telecommunication networks, trained personnel- everything that is necessary for further increasing production volumes.