The total cost of the commission was $40.9 million for the two plants that are under construction in the Trans-Baikal territory, InterFax.com reports.
By the end of 2016, Norilsk Nickel expects to purchase a mine and concentrating plant at the Bugdainskoye molybdenum field in the Trans-Baikal territory. The mine and plant are expected to yield 16 million tons of ore per year and concentrate, which will contain approximately 9,000 tons of molybdenum in 2017.
The company’s second stage of its project in the Trans-Baikal territory will be the construction of the Bugdainsky complex, with $1.09 billion to $1.15 billion to be invested in another mine and concentrating plant at the Bystrinskoye polymetallic ore field by 2016.
Ore production at the Bugdainsky complex is expected to be at 10 million tons a year, producing 62,000 tons of copper in concentrate, 6.3 tons of gold in concentrate and 2.1 million tons of iron in concentrate.
Norilsk Nickel’s investments in the Trans-Baikal region are part of the public-private partnership between the company and the Russian Investment Fund, according to InterFax.com.
A total of $3.56 billion will be invested in projects, with Norilsk Nickel providing more than $2.7 billion, $2.45 billion of which is intended for Bystrinskoye and Bugdainskoye.