Currency converter
^
All news
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Bugdainsky plant construction depends on metals prices — Norilsk Nickel

September 06, 21:07 updated at: September 08, 21:07 UTC+3 VLADIVOSTOK

The issue of development of the Bugdainsky deposit "has been postponed to better times"

Share
1 pages in this article

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.

Eastern Economic Forum

The forum is the biggest international communication platform for cooperation between businesses, political and expert communities from Russia, the Pacific Region and the Association of Southeast Asian Nations (ASEAN). In 2016, the Forum gathered 3,500 participants, who presented 111 projects worth total investments of 2.2 trillion rubles ($37 billion). The forum's delegations signed 216 agreements worth 1.85 trillion rubles ($31 billion).

TASS is the event’s general information partner, an official photo hosting agency and moderator of the investment projects’ presentation zone.

Show more
Share
In other media
Реклама
Partner News
Реклама