On Wednesday, December 21, VTB and "Russian Platinum" signed a memorandum on strategic partnership in the development of the Montenegrin deposit and the southern part of the deposit "Norilsk-1" in the Taimyr Peninsula. The Bank will be entitled to repurchase up to 20% in Montenegrin GDC, said the first deputy chairman of VTB Bank Yuri Soloviev. Bazhaev assessed the entire company at $ 800-900 million Thus, for a 20% share of the bank may pay about $ 170 million According Bazhaev, Taimyr MMC (it holds the license for "Norilsk-1") is estimated to be 2 times more expensive -.. $ 1 , 6-1,8 billion. project cost options will be refined further, and said Bazhaev Solovyov. Now the company needs from $ 800 million to $ 1.2 billion for the development of deposits
Montenegrin deposit and the southern part of the "Norilsk-1" (the northern fulfills "Norilsk Nickel") contain copper, nickel, platinum group metals and gold. "Russian platinum" earlier planned to start production at the Montenegrin mine from 2017, and in the southern part of the "Norilsk-1" - after 2019 now shifted dates. Testing will begin after the Montenegrin deposit 2019-2020 biennium, and the southern part of the "Norilsk-1" -. After 2023, said a representative of "Russian platinum."
Binding agreements VTB and "Russian Platinum" will sign in 2017, and at the same time to close the deal, Soloviev hopes. Bazhaev said that partners will continue talks on attracting financing from Sberbank, Russian Direct Investment Fund, their partners, VEB and other prospective lenders and investors. Even in 2013, "Russian platinum" has attracted a credit line from Gazprombank for $ 840 million. But a little later, the company through the court granted a license for "Norilsk-1", and the project of development of deposits in the Norilsk area needed to review, the company did not use money. In the past year, "Russian platinum" was in talks with VEB in this - with the Savings Bank.
The Bank enjoys metals
Project "Russian platinum" - not the first experience of VTB in the steel sector. Bank in late 2015 bought 13.44% of TMK 10 billion rubles. Part of this package amounted to additional shares. Purchase - a kind way of financing, the source said "Vedomosti" close to the largest steel company. According to him, such a method is popular with borrowers, companies receive money more expensive, but the credit is not reflected on the balance sheet.
To develop and Montenegrin deposit and the southern part of the "Norilsk-1" must be total $ 4 billion, he knows close to one side of a person talks. The development of the Montenegrin "Russian platinum" has already spent $ 240 million, is still required $ 1.2 billion, and the rest is necessary for the development of the southern part of the "Norilsk-1".
VTB and "Russian Platinum" will jointly seek investors and financing of the project, and note Solovyov Bazhaev. Businessman ready to reduce the share of projects in the southern part of the "Norilsk-1", and Montenegrin, but basically wants to retain control.
Attract funding is now in the Russian market for this project because of the foreign exchange liquidity deficit will be quite difficult, says analyst Denis Poryvai Raiffeisenbank. Find the money abroad "Russian platinum" and VTB will be difficult. After all, the state bank is under sanctions, moreover, are matters of the final products and markets - copper, nickel and platinum group metals. Now the price is far from the highs to the project and the start time can remain at low levels, he said.
The negative trend in the industry is broken, says the analyst of Gazprombank Airat Khalikov. China reduces inefficient production in ferrous and non-ferrous metallurgy, metal surplus worldwide may already by 2019 come to nothing, says the expert. In this situation, "Russian Platinum" will be able to get into the trend, he thinks. Although there is a suspicion that at current metal prices VTB participation in the projects, "Russian platinum" - a transitional stage for the sale of assets, "Norilsk Nickel", the analyst suspects ACRA Maxim Khudalov. To develop its own production on the Taimyr Peninsula without the help of "Norilsk Nickel" is difficult.
"Norilsk Nickel" is in dialogue with potential partners from the "Russian platinum", he said "Vedomosti" co-owner and president of the "Norilsk Nickel" Vladimir Potanin. "Russian platinum" considering options for cooperation in the development of the southern part of the "Norilsk-1" with the possibility of processing ore, "Norilsk Nickel" facilities are considered and joint infrastructure projects during the construction of its own facilities as part of a Montenegrin GRK. But the sale of the "Norilsk Nickel" assets speech does not go, the representative said.