RCC has presented its investment project for the Mikheyevsky mining and processing facility

25.05.2012 — News

CHELYABINSK REGION.

Russian Copper Company's project, the Mikheyevsky mining and processing plant, is part of RCC's overall strategy to provide a full production cycle - from mining and processing the ore to production and the creation of nonferrous metallurgical products.

RCC's press office told RusBusinessNews that the project was presented on May 24, 2012 as part of the Silk Road business forum in Chelyabinsk. According to Igor Lashmanov, the deputy minister of economic development for the Sverdlovsk region, this project's significance for the economy of the South Urals cannot be overestimated, as it is additional confirmation of the partnership that exists between the Sverdlovsk region and Russian Copper Company.

$650 million has already been invested in the Mikheyevsky mining and processing facility, which was built to develop the Mikheyevskoe porphyry copper ore deposit in the Varnensky district of the Chelyabinsk region. Adjacent infrastructure has been constructed, including electricity and gas lines and auxiliary facilities. While the project is underway, public budgets at different administrative levels will receive up to 28 billion rubles of tax revenue.

The plant will be able to produce up to 18 million tons of green ore per year, and once operating, will create approximately 700 new jobs. Because the mining facility will use a flotation method for processing the ore as well as a closed water cycle, there will be no emissions into the atmosphere and any negative impact on the local environment will be minimized.

RCC is the third largest Russian producer of copper cathode and the second largest producer of copper rods. The vertically integrated holding company, which is responsible for approximately 18% of copper production in Russia, includes ten active companies and manages a number of investment projects in Russia and Kazakhstan.