March 14, 2019 / 6:02 AM / 2 months ago

Russia, China to invest in Onexim Group mining company

MOSCOW, March 14 (Reuters) - The Russian Direct Investment Fund (RDIF):

* Announces a joint investment in Russian mining company Intergeo along with the Russia-China Investment Fund and a leading Middle Eastern sovereign wealth fund;

* Intergeo is part of Onexim Group, which manages the assets of Russian businessman Mikhail Prokhorov.

* Intergeo owns several mineral deposits with significant copper and nickel reserves, including the Kingash deposit in Russia’s Krasnoyarsk region and the Ak-Sug deposit in the southern Siberian Tuva region.

* RDIF said in January it was planning to set up a new company to supply base metals to China from an existing deposit that had been untapped for a long time. (Reporting by Anastasia Lyrchikova; Writing by Polina Ivanova; Editing by Jane Merriman)

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