Construction of Baimsky mining plant in Chukotka due in 2019

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ANADYR, December 3. /TASS/. Construction of the Baimsky mining and processing plant (GOK) in Chukotka for the world’s one of the biggest copper-gold deposits will begin in 2019, the region’s Governor Roman Kopin told TASS on sidelines of a business conference on Sunday.

“Preparatory works have been completed, all the exploration at the Baimka field has been done, and now we are finalizing a deal to attract the strategic investor,” the governor said. “We expect the plant’s construction will begin in 2019.”

According to him, a town for construction workers is ready at the field, energy specialists have been working at the site. Earlier reports said the plant would be ready by 2022.

The regional authorities expect a decision from the Russian government to approve the deal with the investor – Kazakhstan’s Kaz Minerals.

Baimskaya’s resources are 23 million tonnes of copper and 2,000 tonnes (64.3 million ounces) of gold. The Baimskaya Mining Company owns the license on Peschanka (with reserves of 7.1 million tonnes of copper) to 2033. Peschanka holds 9.5 million tonnes of copper and 16.5 million ounces of gold (based on Australia’s JORC methodology). The mine is expected to achieve annual output of 148,000 tonnes of copper and 275,500 ounces of gold, where for the first decade the output would be 250,000 tonnes of copper and 400,000 ounces of gold a year.

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