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Russian miner Polymetal says secures $45 mln loan

Fri Aug 22, 2008 1:59am EDT

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MOSCOW, Aug 22 (Reuters) - Polymetal (PMTL.MM) (PMTLq.L), Russia's largest silver miner, has secured a $45 million loan from UniCredit Bank that will be used for general corporate purposes, the company said in a statement on Friday. Polymetal said the 12-month loan was at a rate of one-month LIBOR plus 3.25 percent per annum over the first six months of the agreement and 3.75 percent from the seventh month.

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Polymetal was also Russia's third-largest gold miner last year, producing 4.6 percent of the country's total output. (Reporting by Robin Paxton; Editing by Paul Bolding)

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