The company said financial losses at the mine threaten the viability of the rest of the Cooke operations, which include four mines and three processing plants.

The sum obtained after selling 10.9% of the state-controlled diamond producer will be used to cut budget deficit, the government said.

The new investment fund would focus on financing gold mining projects in eastern Russia.

The German banking giant is the last lender to pull back from the embattled coal sector.

Red metal production at the copper-uranium mine is expected to hit around 230,000 tonnes by 2021, but there is potential for up to 450,000 tonnes per year.

Alpha, which filed for bankruptcy in August last year, is scheduled to ask a federal judge Thursday to approve its exit plan despite objections to it.

The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.

U3O8 Corp., a Canadian-based company focused on the development of deposits of uranium and associated commodities, reports on significant developments in nuclear energy in the South American country.