VLADIVOSTOK, September 6. /TASS/. Further development of the Bugdainsky molybdenum deposit and construction there of a mining plant will depend on the metals prices, Vice President of the Norilsk Nickel Company Elena Bezdenezhnykh told reporters on Wednesday.
"Prices on metals, on molybdenum, are not the prices, which may attract not only NorNickel, but also other companies," she said. "As for development of the Bugdainsky deposit, we have postponed it to better times, we shall watch the market."
Construction of a mining plant at the Bugdainsky molybdenum deposit initially used to be a part of the company's investment project on development of Transbaikalia's natural resources. The plan was the plant would account for production of 16 million tonnes of ore a year and for processing it into the concentrate containing about 9,000 tonnes of molybdenum. However, in 2013, the construction was postponed due to lowered prices on molybdenum on the world market.
Norilsk Nickel is a Russian diversified mining and metals company, the world’s largest producer of nickel and palladium and the major producer of platinum, cobalt, copper, and rhodium. The company also produces gold, silver, iridium, osmium, selenium, ruthenium, and tellurium.
The share of Interros owned by Vladimir Potanin in Norilsk Nickel is 30.3%, Oleg Deripaska’s Rusal owns 27.8% in the company, Evraz co-owners Roman Abramovich, Alexander Abramov and Alexander Frolov control about 6% of the company.
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