MIGA RUSSIA GOLD MINE GUARANTEE CANADA BEMA
February 1st, 2006
BY KEITH NUTHALL
THE MULTILATERAL Investment Guarantee Agency (MIGA), of the World Bank, has issued US$313 million in guarantees to an international consortium wanting to develop a gold mine in remote, desolate Chukotka, Siberia. The money has been pledged to developer Canada's Bema Gold Corporation and backers Société Générale, of France: Bayerische Hypo-Und Vereinsbank, of Germany; and Mitsubishi, of Japan. It will cover the consortium's equity investment and loans for the Chukotka Mining and Geological Company - licensed to develop the Kupol mine. The ...
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