Elbrusmetal to start gold mining in Kabardino-Balkaria in 2028, possibly tungsten, molybdenum in future
NALCHIK. March 11 (Interfax) - JSC Elbrusmetal, an affiliate of Russia's Rostec Group, plans to start mining the B.K. Mikhailov gold lode in Kabardino-Balkaria and launch a processing plant in 2028, Rostec said.
Annual production at the Tyrnyauz mining cluster, which includes the deposit, is expected to initially total 2.5 million-3.5 million tonnes of ore, the state corporation said.
Mining of tungsten and molybdenum ore at the Tyrnyauz deposit, which is planned as part of the cluster, is seen as a strategic prospect for the future, the company said.
Verification drilling is now being done at the deposit to confirm exploration data and a future mining plan will be drawn up on its basis.
It was reported earlier that 87.7 tonnes of gold and 390 tonnes of silver reserves at the Mikhailov deposit had been booked in the national register. Rosgeo, which did a feasibility study of provisional deposit development standards with a calculation of deposit reserves, estimated that a mine producing up to 3.6 million tonnes of ore per year could be built there.
The project is being implemented by Rostec with a private investor who acquired a controlling stake in Elbrusmetal.
A project is being carried out in Kabardino-Balkaria and Stavropol Territory to revive tungsten and molybdenum ore mining and processing at the Tyrnyauz deposit that calls for capital expenditures of about 55 billion rubles.
The Mikhailov gold deposit, which is also located near the city of Tyrnyauz, Kabardino-Balkaria, was later included in the project to create the mining cluster.
It was expected that ore would be mined and processed at the complex in Tyrnyauz and concentrate from the complex would be processed at a hydrometallurgical plant in Nevinnomyssk, Stavropol Territory.
Tyrnyauz is one of the largest tungsten deposits in the world and holds almost 37% of Russia's explored tungsten reserves. The mine, which opened in 1940 and was the main local employer, ceased operations in the early 2000s.
