Russian metals producer Norilsk Nickel is ready to consider participation in the development of the Udokan copper field, CEO and key shareholder Vladimir Potanin said on the sidelines of a meeting of the Russian Union of Industrialists and Entrepreneurs on March 16.
“We have received no detailed proposals so far. We will negotiate once it arrives,” Potanin said.
Founder of USM Holding Alisher Usmanov said in December 2016, that the company might cooperate with Norilsk Nickel in the development of the field.
The Udokan deposit in the Zabaikalsky region is one of the world’s largest undeveloped copper deposits, with 2.3 billion tons of mineral resources and an estimated 24.6 million tons of copper at an ore grade of 1.06% under JORC.
Potanin separately said that Chinese investors were interested in raising their 13.33% stake in the Bystrinsky GOK smelter they bought last year and that Norilsk Nickel welcomed the idea.
The Bystrinsky plant is to be launched in October-December and would reach its design capacity of 65,000 tons of copper per year in 2019. (Prime/Ukrainian metal)