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  • MINING PLANT PROJECT IN KAMCHATKA TO BE PRESENTED AT EASTERN ECONOMIC FORUM

    29 August 2016

    Gold production in the region will double following the construction of the plant, the Kamchatka Regional Administration said in a press release.

    “These indicators are expected to be reached by 2025”, Kamchatka Territory Governor Vladimir Ilyukhin said. Annual gold production will grow to 18 tonnes per year as a result of the opening of the new mining plant at the Ozernovsky gold mine, which will be built in the Karaginsky District. The investment project was initiated by Siberian mining plant JSC Sigma. The cost of the construction project is RUB 12.5 billion. The project initiator plans to invest more than RUB 9.2 billion with borrowed funds making up RUB 3.2 billion of that amount.

    The Ozernovsky field in the Karaginsky District is the largest in the Kamchatka Territory. The project has already received government support for the development of engineering infrastructure and has been declared a priority project in the Kamchatka Territory. The design of the ore producing and processing plant will be presented at the second Eastern Economic Forum.