Evraz to invest 2.5 bln rubles in Kachkanarsky mine upgrade
YEKATERINBURG. April 18 (Interfax) - Evraz Group plans to invest 2.5 billion rubles in the space of two years to boost capacity at its OJSC Kachkanarsky GOK ferrovanadic ore mining complex in the Sverdlovsk region 8.9% to 55 million tonnes from 50 million tonnes, the company's Urals regional center said.
The company will buy two 12 cu m excavators, nine 130-tonne Belaz dump trucks and other equipment. The mine will become a combined truck and rail operation.
Giacomo Baizini, Evraz Group's vice president for corporate affairs, said on March 31 that Evraz planned to boost crude ore production at Kachkanarsky GOK 6% this year to 54 million tonnes, and ore production at its EvrazRuda division 3% to 12 million tonnes.
Alexander Frolov, Evraz Group's president, has said around 8 billion rubles would be invested in Kachkanarsky GOK in the next two or three years to raise output 10%-15%. In time, the mine should be producing 63 million tonnes per year, he said.
The group is also preparing the Sobstvenno-Kachkanarskoye titanomagnetic and vanadic ore deposit to go into production when OJSC Kachkanarsky GOK's Gusevogorskoye deposit becomes depleted, in order to both guarantee and increase ore supply for the Nizhny Tagil Iron & Steel Works , which is being expanded.
Kachkanarsky GOK is one of Russia's five biggest mines.