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Russia, China finalise deal to develop polymetallic ore deposit in Far East

DAVOS, January 21. /TASS/. The Russia-China Investment Fund (RCIF), a joint venture between Russia Direct Investment Fund (RDIF) and China Investment Corp (CIC), has finalised an agreement with Central Asia Silver company to develop the Noyon-Tologoy polymetallic ore deposit in Russia"s Zabaikalsk region, the head of the Russian state fund said on Wednesday.

"We have finalised the deal of the Russia-China Investment Fund on investments into the zinc deposit in the Far East," RDIF head Kirill Dmitriev told journalists.

The deposit, containing zinc, lead and silver, is located some 120 kilometres from the Russian-Chinese border and has necessary infrastructure for ore processing and transporting ore concentrate to customers in China.

Dmitriev noted that the project was very important for development of Russia’s Far East. But he did not disclose the amount of investments.