Large complex ore deposit in Yakutia sold for RUR 152 million

Sardana deposit is one of Russia's largest deposits. Its preliminarily investigated reserves total 1.9 million tons of zinc and 0.6 million tons of lead, projected resources total 2.2 million tons of zinc and 0.8 million tons of lead.

Estimated investments into the development of the deposit and construction of a mining and concentrating combine total USD250 million.

// February 9, 2007

Resource: FIS.ru

Yakutia may have Far Eastern Metal Integrated Works

The Far Eastern Metal Integrated Works of the capacity of 10 million tons of iron ore concentrate may be created in Yakutia by 2015.

On the border between Yakutia and Amur region there is a large iron ore deposit. Its proximity to coal reserves and available power supplies creates a prerequisite for the development of an iron ore combine.

According to Shtyrov, it is necessary to unite 'the development of deposits into one lot and carry out the contest on the condition that the Far Eastern Metal Integrated Works be created by 2015.'

// February 9, 2007

Resource: FIS.ru

Summa plans zinc-lead mine

Russian telecomms company Summa said it plans to spend US$250 million to develop a zinc and lead deposit and build an ore concentrator in the far eastern Yakutia region.

"The construction of an ore enrichment plant will require US$150 million and the remainder will be invested in the infrastructure necessary to transport concentrates," the Moscow-based company said.

Siberian Non-Ferrous Metals - a unit of privately owned Summa - won an auction on January 31 to develop the Sardana deposit with a bid of Ru159.6 million (US$6.02 million). It hopes to complete prospecting work at the deposit within five years and start producing concentrates in 2014.

The deposit is estimated to contain 1.9 Mt of zinc and 0.6 Mt of lead, although reserves could contain up to 2.2 Mt of zinc and 0.8 Mt of lead, the company added.

The ore concentrator is expected to produce around 300,000 t/y of zinc and 100,000 t/y of lead concentrate.

Summa added that it planned to sell the concentrates to consumers in Russia, Kazakhstan, Japan, China and South Korea. If domestic demand for zinc and lead rises significantly it may consider building a lead and zinc smelter in the south of Yakutia.

// February 8, 2007

Resource: Mining Journal Online