Severnoye Olovo, managed by Roman Abramovich’s Aristus Holding Ltd, decided to stop operating.
The company had a license through 2028 to work at the largest tin deposits in Russia – Pyrkakai in Chukotka Autonomous District, but gave it up in November 2016.
Pyrkakai reserves are estimated at 228.5 thousand tons of tin (the fourth place in the world) and 23 thousand tons of tungsten. Severnoye Olovo received the license in 2009 and planned to start operating in 2017, with ore processing on the level of 6 million tons per year, producing 11.1 thousand tons of tin and 814 tons of tungsten. (Ukrainian metal)