The Canadian mining company, Kinross Gold Corporation (NYSE:KGC) announced that it closed its $200 million term loan to fund increase in Kupol ownership. The loan was a non-recourse loan taken from a group of international financial institutions. The non-recourse loan carries a term of five years, with annual interest of LIBOR plus 2.5%.
In April 2011, Kinross increased its stake to 100% from 75% in Chukotka Mining and Geological Company (CMGC), which holds both the Kupol mine and mining licence … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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