In 2016, Nordgold to increase its investments in Neryungri by 20%

In 2016, Nordgold of Alexei Mordashov plans to increase its investment in the modernization and development of its subsidiary Neryungri Metallic in Yakutia to 730 million rubles (at the rate of 80 RUR/USD this is more than $9 million), as compared with $7.5 million in 2015, the company reports.

This year, the investments in geological exploration at promising areas, adjacent to the Taborny deposit to increase the volume of the reserves will amount to about 130 million rubles. Nearly 600 million rubles more will be spent for capital repairs of the equipment, replacement of the main technical units, spare parts and upgrade of the fleet, the report says.

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