Alisher Usmanov says the Udokan copper project has attracted $1.225 billion.
The developer of the project, the largest copper deposit in the world – Baikal Mining Company intended to attract the funds in early 2019.
The reserves of the deposit are 15 million tons and resources – 26.7 million tons.
The commission of the first stage of the mining and processing works with the capacity of 12 million tons of ore per year and 130 thousand tons of copper cathodes and concentrate is scheduled for late 2021 – early 2022. (Ukrainian metal)