SMR to build Agaskyrsky copper-molybdenum mining and concentrating complex in Khakassia by 2017

Soyuzmetalresource (SMR, included into En+ Group of Oleg Deripaska) plans to build a mining and concentrating complex at the Agaskyrskoe copper-molybdenum deposit in Khakassia. More than $400 million USD is proposed to be invested, the company reported to Prime.

As the complex reaches its designated capacity in 2017, the annual ore processing will make up 10 million tons, production of molybdenum concentrate will amount to 9 thousand tons and copper concentrate – 11 thousand tons.

“The domestic market, European market and CIS market are the sales markets traditional for SMR”, the agency’s interlocutor noted.

In July Sorsky GOK LLC (SMR enterprise) won the auction for the right of Agaskyrskoe deposit development. The company paid 279.4 million rubles (initial payment – 254 million rubles). At the beginning of September a subsoil use license valid until September 2031 was given to the company.

The general Director of Soyuzmetalresource Pavel Krasovsky noted, that “the right to develop Agaskyrskoe deposit broadened the company’s resource base considerably. Besides, the proximity of our main production site provides for more effective development of the deposit”.

The licensed sector is situated at the territory of Ordzhonikidze disctrict municipal unit in Khakassia, not far from the Sorsky production complex, the main production site of SMR.

The area of the sector equals 2.9 square km. As of January 1, 2010 state balance reserves made up 310.476 million tons of B+C1 ores, containing 155.305 thousand tons of molybdenum and 98.7 thousand tons of copper.

The deposit also contains 509.1 tons of silver, 5.9 tons of rhenium and 1.912 thousand tons of sulfur.

Soyuzmetalresource unites a group of companies dealing with exploration, extraction, concentration and metallurgical processing of minerals as well as the production of molybdenum. The main assets of the group include Sorsky ferromolybdenum plant LLC, Sorsky GOK LLC, Zhirekensky ferromolybdenum plant LLC and Zhirekensky GOK Plc.



Translated by Alexandra Utyasheva

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