Russia-China Invest Fund to finance lead-zinc Far Eastern project

MOSCOW, June 5 (Itar-Tass/PRIME) -- Russia-China Investment Fund (RCIF) will finance the development of the Noion-Tologoiskoye polymetallic deposit in the Zabaikalsky Region with investments totaling around U.S. $200 million, Bloomberg reported Thursday, citing sources. Baikalrud, owned by Chinese mining company Baojin, already invested around $100 million to build an ore dressing plant near the lead-zinc deposit, according to earlier reports. The plant with an annual capacity of 500,000 tonnes of ore will be launched in 2014. The company plans to raise the capacity to 3 million tonnes per year, which requires $200 million investments, with the works being planned to start in 2016. A representative for the regional governor’s news service said that Chinese investors have already provided some funds to conduct exploration works at the field, build a power supply system and some other infrastructure. RCIF was founded by The Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC) in 2012. Learn more on itar-tass.com