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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST

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To: lorne who wrote (23616)11/30/1998 10:32:00 AM
From: Alex  Read Replies (1) of 116759
 
11/30/98 - EBRD to loan Russia"s gold industry against MinFins.

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LONDON, November 30 (Itar-Tass) - The European Bank for Reconstruction and Development is considering a special loan to Russia"s gold-mining industry against the Russian Finance Ministry"s gold-backed bonds as collateral, an EBRD official representative told Itar-Tass on Monday.

He said the one-year loan is to go into the output of an above-target 50 tonnes of gold by Russian companies.

The loan is to be paid off by gold sales in world markets. lyu/ezh
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