Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Petropavlovsk Plc (POG)

  Print      Mail a friend       Annual reports

Tuesday 13 October, 2009

Petropavlovsk Plc

Agreement with XY to develop

RNS Number : 6552A
Petropavlovsk PLC
13 October 2009
 

 

13 October 2009

 
 
Petropavlovsk agreement with Xuan Yuan Industrial Development Co. Ltd.
to develop the K&S iron ore project
 
 
Petropavlovsk PLC ("Petropavlovsk") announces the signing of a cooperation agreement (the “Agreement”) with Xuan Yuan Industrial Development Co. Ltd.XY-Group which foresees the two parties jointly developing the K&S iron ore project.
 
The key elements of the Agreement include the following provisions:
-          XY-Group will finance the construction of a mining and beneficiating operation at K&S to produce 3.2mtpa of 65% iron ore concentrate (“Stage 1”);
-         The parties will proceed to review the development of:
·         Stage 2 – the expansion of the 3.2mtpa operation to (a) exploit further resources at K&S and (b) to construct a mining and processing operation at the Garinskoye deposit from where the ore would transported to and beneficiated at an enlarged processing operation at K&S;
·         Stage 3 - the construction of a metallurgical plant at K&S with a total annual production capacity of 2.5Mt of Direct Reduced Iron (DRI) and the consumption of 3.75Mt of iron ore concentrate;
-         The Stage 1 development is expected to incur US$375m of capital expenditure. XY Group will provide at least 70% of the funding by the way of a loanfor the Stage 1 development in the form of a project finance facility  with a term of c.10 years with repayment in the 7 years following Stage 1 commissioning and with interest payable at an approximate rate of LIBOR plus 5% on funds drawn (the “Loan”);
-         XY-Group may also choose to invest in new shares in the Petropavlovsk subsidiary that owns the K&S project which would result in XY-Group holding a minority stake in the project; any such subscription funds are expected to provide a part of the balance of the project funding cost;
-         Upon completion of the project financing agreement, it is intended that XY-Group will enter into an iron ore offtake agreement for all production from Stage 1 during the term of the Loan at a price to be determined using the Western Australian benchmark plus a transport premium;
-         This binding cooperation agreement forms the basis for full EPC, offtake and loan agreements that are expected to be finalised in the next six months.
 
XY-Group is one of the most successful private enterprise groups in China and is currently the largest Chinese investor in Russia. For more information please visit www.xy-group.com.
 
Commenting on the announcement from Beijing, Peter Hambro, Chairman of Petropavlovsk, said:
"We are delighted to have achieved an agreement with XY-Group which delivers significant progress on our 3 key objectives in iron ore – funding, construction and offtake. XY-Group is the largest Chinese investor in Russia and enjoys a strong track record of project development and investment and I look forward to building a successful partnership together.
 
“This agreement is the first step in realising the significant value that I believe is contained in our portfolio of non-precious metal assets. With Kuranakh reaching full production in 2010 and a busy construction programme at K&S as envisaged in this agreement, I believe the opportunity for Petropavlovsk to build a substantial position in the iron ore market is now achievable.”
 
 
Enquiries:
 
Petropavlovsk PLC
Alya Samokhvalova 
Charles Gordon
Rachel Tuft
 
 
 +44 (0) 20 7201 8900 
 
 
Merlin
David Simonson
Tom Randell 
 
 +44 (0) 20 7653 6620 




This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGRGUBDGCDBGGCX