Rosatom estimates 20 bln rubles investment in Pavlovskoye lead, zinc mining project
ARKHANGELSK. March 30 (Interfax) - Russian state nuclear corporation Rosatom and the Arkhangelsk Region have signed an agreement on cooperation in the comprehensive development of the Russian Arctic.
The document was signed by Rosatom head Alexei Likhachev and the governor of Arkhangelsk Region Igor Orlov on Thursday as part of the international Arctic forum, Arctic - Territory of Dialog, an Interfax correspondent reported from the signing ceremony.
The agreement envisages the implementation by Rosatom of a mining project to develop the Pavlovskoye polymetallic ore field.
"We believe that the total project will have an upper limit of, probably, around 20 billion rubles, it is possible to roughly divide this under three headings: the creation of mining and enrichment capacity, establishing production (ore extracting works) and port infrastructure. It's a serious project, very solid investment and we, of course, are thinking about the diversification of investment here, we will raise funds for the fastest progress of the project," Likhachev said.
Speaking about the mining construction project on Novaya Zemlya, the Rosatom head said: "We are seeing great prospects to increase the supply of lead and zinc ore to the domestic and overseas markets; if anything, we will be export orientated to a large degree. There is currently a preliminary agreement with our trading partners. The reserves of the Pavlovskoye field are extremely large: up to 50 million tonnes of ore and up to 3.5 million tonnes of pure metals, this is the work ahead for the next decade. We are aiming to put the mine into operation for around the end of 2021-2022".
"We are really hoping to implement the port project, including for the use of deep-sea vessels, but, as is known, Rosatom will not implement the project by itself, we need a partner. Our foreign partners have displayed an interest in this project, especially in processing," Likhachev said.
On March 29, uranium miner Atomredmetzoloto, Atomflot and VostokCoal reached an agreement on cooperation in the Arctic, in particular, on issues of icebreaker vessels on the Northern Sea Route as well as the joint development of polymetallic, coal and other fields, including the design and construction of mines in the Arctic zone. In addition, the parties agreed to collaborate on other projects in the region. One of the main objectives of cooperation is the Pavlovskoye lead and zinc field development project, and namely the creation and equipping of mine infrastructure facilities and port complex.
Pavlovskoye is one of Russia's biggest lead-zinc fields. Its reserves are estimated at 47.7 million tonnes of ore: 2.49 million tonnes of zinc, 549,000 tonnes of lead and 1,194 tonnes of silver. First Mining Company plans to build a mine with a capacity of 3.5 million tonnes of ore per year on Novaya Zemlya.