Interfax China reported that Ukrainian coal producer OJSC Lisichanskugol hopes to secure an USD 85 million loan from the state run China Development Bank to finance a pilot project to upgrade the D Melnikov Mine.

It was earlier reported that Ukraine cabinet provided Lisichanskugol with a state guarantee for a loan of up to USD 85 million. The main collateral on the loan includes mining equipment and claim rights for revenue from coal sales.

Lisichanskugol has agreed to collaborate with China Tiandi Science Tecnology Co Ltd on the project.

State owned Lisichanskugol operates four mines located in the Lugansk Region, G Kapustin, D Melnikov, Privolnyanskaya and Novodruzhevskaya.

(Sourced from Interfax-China)