Tigers Realm Coal Ltd. said Dec. 27 that its Russia-based Beringpromugol subsidiary entered into an agreement with Sberbank to secure a loan facility of 600 million Russian rubles.
The loan will support the company's operating and capital expenditure prior to the next revenue from sales, expected in July 2018.
The facility could be drawn between December 2017 and August 2018, with repayments to start thereafter.
The company also noted that the port transhipment operation for 2017 stopped in early November with 165,000 tonnes of coal shipped from its Project F in Russia.
Tigers Realm supplied semisoft coking coal to Japan and China, and thermal coal to China, Taiwan and some for the Chukotka regional market.
As of Dec. 26, US$1 was equivalent to 57.67 Russian ruble.