The OJSC Russian Magnesium Board of Directors met on 1 March 2012 in Yekaterinburg   to discuss several issues related to the company's activities. The participants discussed, among other things, the current state of affairs regarding the MBC Corporation's preparation of an application for loan financing from Vneshekonombank in accordance with the agency contract of 27 January 2012.
It was noted that the MBC Corporation and Vneshekonombank had agreed upon a working schedule for the preparation for the review of the application for loan financing and specified that indicative conditions for the financing would be agreed upon to coincide with the main work completion in July 2012.
Aleksandr Nevesyoly, representative of the MBC Corporation in charge of the above-mentioned agency contract was appointed Deputy General Director of OJSC Russian Magnesium to oversee the attraction of the loan from Vneshekonombank.