Construction of the mining and processing plant on the basis of the Udokan copper deposit is the largest investment project in Zabaikalye region and one of the largest in the Far East. The Udokan deposit with the reserves of 26.7 million tons of copper is one of the largest in Russia. The plant will be…
The construction site of the Udokan Mining and Metallurgical Works has received the first batch of embedded parts for the Outotec machinery. The parts are needed to assemble the machinery used in the floatation and hydrometallurgical system of ore processing. In particular, the new parts will be used in ball mills. The mills themselves will…
Baikal Mining Company has concluded an agreement with Renaissance Heavy Industries to build the first stage of the Udokan Mining and Metallurgical Plant with the capacity of 12 million tons of ore per year. The price of the agreement is some 28 billion rubles ($420 million). The company will have to construct a technological complex,…
Banks have provided the first tranche under the design financing to develop the Udokan copper deposit in the amount of 340 million rubles. Subsequent funds will be provided according to the construction schedule. The total cost of the project is some $3 billion, of which $1.79 billion is a loan for 12 years. The loan…
Baikal Mining Company and Outotec have signed an agreement on the delivery of the machinery valued at 250 million euro to Udokan Mining and Processing Works. The company will supply machinery for floatation processing of ores with the volume ranging from 20 to 300 cubic meters. The usage of module extraction units will reduce construction…
Russian state banks VEB.RF, Gazprombank, and Sberbank will provide financing to Baikal Mining Company belonging to billionaire Alisher Usmanov that would cover up to 70% of a $2.9-billion Udokan copper deposit, Baikal Mining Company said in a statement. The shareholders of Baikal Mining Company have already invested 28.5 billion rubles and they will cover at…
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…
The State Expertise Service of Russia has approved the design documentation on the project “Mining and Processing Works Udokan. The first stage of construction with the capacity of 12 million tons of ore per year”. Thus, the project has received all the necessary documents to start construction. The commissioning is scheduled for 2021, while the…