Russia's expert review office approves IRC's project for first phase of Sutarskoye deposit
BIROBIDZHAN. Oct 24 (Interfax) - Russian state expert review office Glavgosexpertiza has issued an affirmative conclusion on the first phase of a project to build a mine at the Sutarskoye iron ore deposit in the Jewish Autonomous Region, the operator of which is IRC's Kimkano-Sutarsky mine and processing plant (K&S), the agency reported.
"There are plans to mine 9 million tonnes of ore per year here for production of iron ore concentrate with iron concentration of up to 65%," the agency said.
The first phase of the project involves removable of overburden, and in the second phase the company will begin the first stage of developing the Sutara mine. The first phase includes mine preparation work, including preparation of the surface of the mine, construction of a water drainage system, settlement pond for mine water with a drainage ditch, siting of areas for storing construction materials and other work needed to start developing the deposit.
The new mine will make it possible to maintain the capacity of the existing mining operation amid a decline in ore output at the mines of the Kimkanskoye iron ore deposit, the agency said.
The Sutarskoye deposit is located in the Lesser Khingan mining area in the Obluchensky district of the Jewish Autonomous Region, 4 kilometers from Izvestkovaya station and 2 km from the tracks of the Far East Railway.
It was reported earlier that the company is pushing back the launch of mining at Sutarskoye from the second half of 2023 to the first half of 2024. Capital expenditures on the project are expected to total $50.4 million, $25.9 million of which had already been invested as of the end of June.
IRC, the largest iron ore producer in Russia's Far East, produced 647,000 tonnes of iron ore concentrate in the second quarter of 2023 and sold 679,000 tonnes.
IRC's main asset is the Kimkano-Sutarsky mine and processing plant in the Jewish Autonomous Region, which produces 65% iron ore concentrate. IRC's largest shareholder is Geotech founder Nikolai Levitsky with 24.9%; entities controlled by Marina Kolesnikova hold 16.7%.