UMMC will invest 135.5 billion rubles in its production growth by 2022

15.07.2014 — News

SVERDLOVSK REGION

From 2012 to 2022 the Ural Mining and Metallurgical Company intends to invest 135.5 billion rubles in raw materials security and production upgrading. These data are taken from the Strategy of Development of Non-Ferrous and Ferrous Metal Industry till 2020, which was approved by the RF Ministry of Industry and Trade. The funds will be earmarked for expansion of the Uralelectromed copper refinery (6 billion rubles), for increasing capacity of Gaisky GOK, for switchover to underground mining at the Safyanovskoye ore deposit, for development of the Elkinskoye and Elanskoye nickel deposits as well as Yubileinoye, Podolskoye and Ozernoe copper-sulphide deposits.

The UMMC Press Service has informed RusBusinessNews that the expansion project for Gaisky GOK is estimated at 23 billion rubles. The purpose of the project is to increase the ore output from 5.5 to 7 million tons a year, while the total output of the concentrating plant will reach 9 million tons of ore a year.

UMMC will invest 30 billion rubles in development of the Yubileinoye, Podolskoye and Ozernoe deposits.