U.K.-based mining giant Evraz, which operates mainly in Russia, plans to invest 6.4 billion rubles in the first stage of the development of the Kachkanar-proper titanium magnetite vanadium-containing ore deposit in the Sverdlovsk region, the company said in a statement on May 27.
Commercial ore production is expected to begin in the first quarter of 2021. The deposit will be developed in a single open pit. By 2024, annual ore production is expected to have reached 13 million tons.
The Kachkanar-proper deposit is located on the slopes of the Kachkanar mountain, 5 kilometers away from the Gusevogorskoye deposit. The total reserves of ferrous titanium-magnetite ores are estimated now at 6.87 billion tons, with an average iron content of 16.6%. Based on the company’s annual consumption of 60 million tons, the deposit may last for over 100 years. (Prime/Ukrainian metal)