Cyprus holding company Intergeo redomiciled to Russky Island

MOSCOW. Jan 19 (Interfax) - Intergeo MMC Ltd., the holding company of Intergeo Management Company, has redomiciled itself to the Special Administrative Region on Russky Island, the Unified State Register of Legal Entities shows.

The charter capital of Intergeo MMSI Ltd. International LLC is 10.248 billion rubles.

Intergeo MMSI Ltd. controls Intergeo Management Company, which was created by Onexim in 2007-2008 to manage exploration licenses for a number of promising areas that Mikhail Prokhorov's group received as part of a division of assets with Vladimir Potanin's Interros.

Intergeo is preparing to develop the Ak-Sug porphyry copper deposit, located in Tuva (established resources of more than 4.9 million tonnes of copper) and the large Kingash nickel-sulfide deposit, also located in the southern part of Siberia. The Ak-Sug mining and processing plant, with a capacity of 24 million tonnes of ore per year, is planning to start operations in 2024, with production of copper-molybdenum concentrate starting in 2026. Average annual production volume could reach 500,000 tonnes of concentrate. Production of over 600,000 tonnes of copper-nickel concentrate is planned at the Kingash group deposits starting in 2028.

Intergeo owns 100% each of Golevskaya GRK LLC, Kingashskaya GRK LLC and Tyvamed LLC.