Russia and Kazakhstan reached agreement on mining at Tarutinskoye copper deposit

CHELYABINSK REGION

 

On August 18, Russia and Kazakhstan signed the intergovernmental agreement for performance of business activities within the border area, regarding mining copper ores of the Tarutinskoye deposit in the Chelyabinsk Region.

 

As RusBusinessNews has been informed by the Press Service of the Russian Copper Company (RCC), Vostochny Bazis, LLC (a member of the RCC Group) is a license holder for the Tarutinskoye deposit, the eastern part of which is located along the state border. The total area of the license block is 1.81 square kilometers. The approved balance reserves of ores total 4.583 million tons, including copper reserves of 63.7 thousand tons.

 

The deposit will be mined by using open-pit techniques; the estimated annual output is 750 thousand tons of ore during 9.5 years. The ore will be processed at the Mikheevsky Mining and Processing Plant, JSC. The project will create 350 new jobs.

 

The development of the Tarutinskoye deposit is the second investment project implemented by RCC under its agreements for cross-border cooperation between Russia and Kazakhstan. The project will give an additional impetus to the growth of the Chelyabinsk Region. RCC’s investment in the development of the mine and infrastructure facilities at the Tarutinskoye deposit will total 1.2 billion rubles, according to RCC’s president Vsevolod Levin.