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Onexim Group to begin commercial operations at large copper/molybdenum deposit in 2021

Experts say the deposit contains 4.2 million tonnes of copper, 114,700 tonnes of molybdenum125.7 tonnes of gold, and 794.7 tons of silver

KRASNOYARSK, April 22. /TASS/. ONEXIM Group controlled by Russian billionnaire businessman Mikhail Prokhorov plans to put a large copper/molybdenum deposit in southern Siberia into commercial operation in 2021, Andrei Listkov, the Director General of the Golevskaya Ore Mining Company, an Onexim subsidiary said on Friday on the sidelines of an economic forum underway in the East-Siberian city of Krasnoyarsk.

The Ak-Sug deposit, which ranks among the large ones in terms of proven reserves, is located in the upper reach of the river of the same name in the southern Siberian region of Tuva, on the heavily rugged southern slopes of the Eastern Sayan mountain range, some 260 km to the Southeast of the regional capital Kyzyl.

Experts say the deposit contains 4.2 million tonnes of copper, 114,700 tonnes of molybdenum125.7 tonnes of gold, and 794.7 tons of silver.

"It's important to endorse the construction project by August 1, 2019 and to streamline commercial operations in 2021," Listkov said, adding that the project would have a 23-years-long output period, producing annually some 115 tons of copper, more than 2 tonnes of gold, 1,740 tons of molybdenum, and 1.5 tons of iridium.

The Krasnoyarsk Economic Forum opened on Thursday and will be over on Saturday. Its main motto reads: 'Russian Economy: An Agenda from 2017 through 2025'. TASS is a strategic partner of the forum.

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