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The Eurasian Development Bank (EDB) and Eurasian Resources Group (ERG) signed a memorandum of cooperation during this year St. Petersburg International Economic Forum (SPIEF'21). Under the memorandum, the EDB will consider extending a credit facility to Sokolov-Sarbai Mining Production Association (SSGPO) for pre-export financing and to finance the company's investment programme.
"We've been cooperating with ERG since 2016 and it is one of our anchor partners. SSGPO is among Kazakhstan's largest mining companies. It is developing the Sokolovsky, Sarbaisky, Kacharsky and Kurzhinkulsky open-pit mines, the Alekseevsky dolomite mine, and the Sokolovskaya underground mine. The company supplies iron ore concentrate and pellets to the Kazakh, Russian, and Chinese markets. Our...
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