Russian miner Petropavlovsk announced on Friday that it had reached an important step in concluding the refinancing of a $240-million facility that Hong Kong-based IRC, in which it is a large shareholder, has with the Industrial and Commercial Bank of China (ICBC). Petropavlovsk is the guarantor of the facility between IRC subsidiary Kimkano-Sutarsky Mining and Beneficiation (K&S) and ICBC.
