8 Sep '10
Petropavlovsk group of companies intends to build Gagarinsky ore and mining factory and a mining and metallurgic plant in Amur region, Interfax reports.
Investment in the project has yet to be disclosed.
The Gagarinsky’s projected annual capacity is 10 million tons of ore, and metallurgic plant is reportedly to annually produce 1 million tons of recovered iron.
The facilities are scheduled to reach the projected annual capacity in 2014.
The Garinsky factory and metallurgic plant are to become a part of the company’s mining and metallurgic cluster in Far East. Other complexes in the cluster are Olekminsky ore and mining factory, launched in Amur region in 2010, and Russian-Chinese JV – Kimkano-Sutarsky ore and mining factory, currently under construction in the Jewish Autonomous Region.
Total investment into the cluster is estimated at $3.5bn.