1 August 2016

RMK invests in the construction of Mikheevsky GOK

Mikheevsky GOK is located in the Chelyabinsk region. It is planned to erect the second stage of the mining and processing plant. RMK - Russian Copper Company - plans to invest in the project 26.8 billion RUB. In general, the cost of the project will be about 1 billion USD. The construction of the second stage is planned for the end of 2017 - the beginning of 2018. Construction work will continue for about two years. The expected capacity of the II stage of the Mikheevsky Combine is 9-10 million tons / year of copper raw materials. The production of copper concentrate will reach 100,000 tons per year. The combined productivity of the plant will increase. The annual extraction of copper ore will reach about 27 million tons. The production of copper concentrate will amount to about 420,000 tons per year.

Mikheevsky GOK will expand its own capacities by increasing the reserves of the Mikheevskoye field. For two years, additional exploration was carried out. During this same period, the copper reserves of the deposit increased. The increase was 1 million tons. When the first stage of the GOK was built, the reserves were 1.5 million tons. To date, the figure has risen to a mark of 2.5 million tons. At the moment, the standard procedure for setting assets to the GKZ balance sheet is under way. This was announced by the president of the Russian Copper Company Vsevolod Levin.

Mikheevsky combine develops the eponymous mine with a reserve of copper-porphyry raw materials. This deposit is one of the largest copper sources in Russia. There are deposits of copper, silver and gold in the mine. Mikheevsky Ore Mining and Processing Plant is the largest post-Soviet project, built "from scratch." Another similar project is Tominsky GOK. Its Russian copper company sells at the same-named deposit.

Despite the expansion of RMK for the six-month period of 2016, the production of copper concentrates fell. The Federal State Statistics Service provided its own report. In accordance with it, Russian production of products decreased by 1.1%. Last month, the production of copper wire declined by 3.8% compared to the same period last year. Compared with May indicators, the result decreased by 0.1%.

The Chinese statistics authorities in the middle of the month published a forecast for copper in the global market. Chinese analysts believe that the world surplus of copper will be 225,000 tons.

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