TriArc Mining is preparing to start operation at the Tomtorskoye deposit and construction of a mining and processing works in Krasnokamensk. Investments in the development of the rare-earth metals deposit in the Republic of Sakha (Yakutia) will exceed 55 billion rubles. So far the company has invested some 4 billion rubles. The capacity of the…
The project to develop the Tomtorskoye rare-earth metals deposit will be carried out. According to the Yakutia governor Aisen Nikolayev, the mining could start in 2-3 years. The Tomtor ore is rich in niobium and other rare-earth metals used in the manufacture of military machines, rocket-building, nuclear industry, etc. According to estimations, reserves of the…
VEB.RF has provided the first tranche to finance development of the design documentation on the Tomtor rare-earth metals deposit. The loan agreements between VEB.RF, Vostoc Engineering and Krasnokamensk Hydrometallurgical Works were concluded in September. The total amount of the loan is 1.5 billion rubles. The Tomtor deposit is situated in the Republic of Sakha and…
Arbitration decision on claim of Stans Energy Corp. must be confirmed in the jurisdictions of the respective countries, center for Judicial Representation of the Government of the Kyrgyz Republic reported. According to the center, the decision does not mean that the Kyrgyz side will automatically pay the arbitration amount. It must still be confirmed in…
International arbitration satisfied about 6% of claims of Stans Energy Corp. and Kutessay Mining LLC to Kyrgyzstan, having ruled to compensate only some direct costs for development of Kutessay II and Kalesay deposits and a part of the court costs, but rejected the rest of the claims, the Center for Legal Representation of the government…
Russian state industrial corporation Rostec has left the Tomtor rare earth metals field it has been developing jointly with ICT Group of Alexander Nesis since 2013. Rostec transferred its 25% plus one share in the field’s developer ThreeArc Mining to Cyprus-registered Zaltama Holding Ltd, affiliated with Oleg Misevra, chairman of the board of directors of…
In 2018 rare-earth metals consumption in Russia totaled 1.2 thousand tons, while in China – 100 thousand tons. Thus, the local market is still weak. The main consumption industries are manufacture of catalysts, glass and optics. Consumption could grow, according to the experts, by increasing catalysts output and by developing the metal industry. At present…
The State commission on reserves has positively assessed the report on the reserves of the rare-earth metal raw materials at the Chuktukon deposit. The deposit is situated in the Krasnoyarare earthrsk region. The prospecting work was carried out in 2014-2018. According to the report, the reserves of the deposit are as follows: rare earth trioxides…