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EastRussia Bulletin: in the Far East are going to increase mining
Mining projects are developing in the Far East. The transaction on the Malmyzhskoye field has been completed, plans for the development of the Pavlik deposit in the Magadan region and to increase production at the Shanuch deposit in the Kamchatka region are being discussed, according to the next published issue of the EastRussia bulletin. In addition, new licenses for exploration in the Irkutsk and Amur regions are acquired by Kopy Goldfields.
Altushkina Russian Copper Company, JSC completed the acquisition of 100% at Amur Minerals LLC, which is the operator of the Malmyzhskoye gold-copper porphyry deposit in the Khabarovsk Territory. Share bought from Khabarovsk Minerals LLC (founders - Canadian IG Copper (51%) and American Freeport McMoRan Corp (49%)). The total amount of the transaction was 200 million USD. The approved reserves of the deposit are 5,6 mln. Tons of copper and 298 tons of gold, and resources are estimated at 3,3 mln. Tons of copper and 151 tons of gold. A mine is planned to be built at a mine with a capacity of 30 million tons of ore per year. Earlier, the volume of investment in the development of the field was estimated at 1,5 billion rubles.
Pavlik JSC intends to increase its reserves of the same name deposit in the Magadan Region to 2021 tons of gold by 300 year. As of October 1, 185,9 tons of precious metals are on the balance of the deposit. At present, the capacity of the Pavlik mining and processing complex is 5 million tons of ore per year, by 2021, the company expects to increase the processing capacity by half. Production is expected to grow to 12 tons of gold, while by the end of the current year it is expected to be at the level of 6,8 tons of gold.
In the Kamchatka Territory, it is planned to increase production at the Shanuchsky cobalt-copper-nickel deposit. NPK Geotechnology CJSC has announced plans to increase the capacity of the mine in Shanuche located in the Milkovsky district to 250 thousand tons of ore per year by 2020. Currently, the capacity of the mine is 140 thousand tons per year. And the gold mining company Kopy Goldfields registered in Sweden received new areas for exploration in the Irkutsk region and acquired a stake in the Amur project. In Priangarya, the company received a new gold license in the Bodaibo region and completed the purchase of 51% in a project involving four geological exploration licenses for placer gold in the Amur region.
A detailed analysis of this and other relevant topics can be found in the weekly bulletin EastRussia (https://www.eastrussia.ru/subscribe/).