UMMC has started developing one of the largest copper deposits in Russia – Podolskoye, which will cover some 20% of the group raw materials base.
The deposit is situated in Bashkortostan and was discovered in 1971.
The reserves of copper, copper-zinc and pyrite ores amount to 88.6 million tons. In addition to copper, there is also zinc, silver and gold.
The development of the northern bed will start in 2027 with the output at 1 million tons of ore per year.
When the central bed is commissioned in 2032 the output is expected to grow to 4.3 million tons.
Investments in the project are estimated at 50 billion rubles ($750 million). (Ukrainian metal)