Avelanna Gold has developed a project to mine for precious metals in Zakarpatye and plans to invest some $100 million.
The company has already received all the agreements, but the formal provision of documents is always postponed, so it cannot start operating.
The company is working on the development of new infrastructure at the Muzhievskoye deposits using new machinery.
The old infrastructure of the mine limited its capacity – output reached only 120 thousand tons per year. Now the investors intend to increase it to 500 thousand tons. For this Avellana Gold will mine both for gold and gold-polymetallic ores. (Ukrainian metal)