Petropavlovsk bails out IRC over ICBC repayment prior to refinancing
Gold miner Petropavlovsk has loaned $29.75 million to IRC Ltd to help an IRC subsidiary meet a payment due under an ICBC project loan. Petropavlovsk, which owns 31% of IRC, says the bridge loan will be repaid as soon as refinancing of the ICBC facility is completed. The $340 million...