24 Jan '11
VTB Bank is funding gold production in the Khabarovsk region through its $19m line of credit opened for 2010 and 2011, the bank said.
It is a reported 60% y/y increase and is said to account for 80% of all funding made available for the region’s gold sector.
Khabarovsk regional gold miners reported a 3.7% y/y increase in gold production between January and September 2010.
VTB Bank is Russia’s second largest bank.