UMMC will double investment in Gaisky Mining and Processing Complex

01.07.2011 — News

ORENBURG REGION.

In 2011, The Ural Mining and Metallurgical Company (UMMC) is investing about 4.3 billion rubles in upgrading of the Gaisky Mining and Processing Complex OJSC, thus exceeding its last year investment two times.

The representatives of the UGMK Press Service informed "RusBusinessNews" that to increase future ore mining underground operations, to reach the output of 7-7.5 million tons a year, the company will need to build a new underground mine with the annual output totaling 4.5 million tons. More than 600 million rubles will be invested in open-cut mining operations and in purchasing of the required mining equipment.

69 million rubles will be invested in completion of reconstruction and technological re-equipment of the processing factory. This year, the factory will process more than 7 million tons of ore - 1 million tons more than in 2010. The quality of the copper concentrate will improve by 19.5-20%.

In 2011, the Gaisky Mining and Processing Complex is planning to mine 7.12 million tons of ore, including 5.4 million tons by using the underground method.