Zashikhinskoye rare-earth metals project put back until 2030s - officials

IRKUTSK. March 26 (Interfax) - The development of the Zashikhinskoye rare-earth metals deposit in Russia's Irkutsk region has been put back until the 2030s, Ruslan Sitnikov, first deputy head of the region's government, said during the "Russia and CIS Mining Industry: Construction and Modernization" conference in Irkutsk on Wednesday.

"The Zashikhinskoye project involves building two production complexes: a mining and processing plant in the Irkutsk region and a chemical and metallurgical plant in Krasnokamensk in the Trans-Baikal territory. Production will be 2,500 tonnes of niobium and 220 tonnes of tantalum annually. Launch is scheduled for the 2030s," he said.

Sitnikov said the project was supported at the federal and regional levels, and an agreement on safeguarding and promotion of capital investments had been signed with the investor.

The Zashikhinskoye deposit is located in the Irkutsk region's Nizhneudinsky district. CSJC Technoinvest Alliance holds the license to it. Development of the deposit was originally scheduled to begin in 2014 but has been delayed indefinitely, partly due to the absence of beneficiation technology. Investment in the mining project has been estimated at 19.3 billion rubles.

The mine, capacity 1 million tonnes of ore, was to have been commissioned at the end of 2023, with full ramp-up in 2024-2025.

Technoinvest Alliance said earlier that PJSC ChelPipe was its strategic partner and shareholder.