StockMarketWire.com - Petropavlovsk noted that a new railway bridge between China and Russia was nearing completion, potentially benefiting a company in which it held a 31.1% stake.

The company, IRC, had made an announcement in relation to the connection of both ends of the Amur River bridge.

Authorities in China's Heilongjiang province confirmed that the last steel beam of the bridge had been installed.

Full construction was scheduled in July 2019 and was expected to be operational later in 2019.

'In terms of significance, and as previously announced by IRC, the cost of transporting its premium high-grade 65% iron ore product to China from the K&S mine may be reduced by up to US$5 per tonne once the railway bridge is in operation,' Petropavlovsk said.

'In addition, the completion of the bridge will shorten the potential shipment time from seven to 10 days to three to five days.'


At 9:21am: [LON:POG] Petropavlovsk PLC share price was -0.11p at 8.09p



Story provided by StockMarketWire.com