Moscow, September 4, a company owned by Russian billionaire Alisher Usmanov Holdings said on Tuesday that it has begun construction of a large mining and smelter in the Udokan copper deposit in a remote part of eastern Siberia.
The Udokan deposit has a copper reserve of approximately 26.7 million tons and is the largest undeveloped copper deposit in Russia and one of the largest undeveloped copper deposits in the world.
Baikal Mining Company said that after the start of production in 2022, the smelter will have a maximum ore refining capacity of 12 million tons per year. In the future, it is also possible to increase the annual refining capacity to 48 million tons.
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