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Operation Kimkano-Sutarskoye GOK postponed

Starting Kimkano-Sutarskoye mining and processing plant located in the Far East, it has been postponed for six months by the decision of IRC Ltd. iron ore companies This decision was motivated by last year's flooding the company's management, the consequences of which affected the work of Chinese contractors, forced protracted construction time frame factory, although it is in their interest to early start of the project — in the plans of Chinese companies «Minmetals Cheerglory» and «IRC General Nice» further purchase of plant products.

Earlier beginning of Operation Kimkano-Sutarskoye mining and processing plant was scheduled for June, but for the reasons stated deadlines postponed to November this year. The company's management, represented by Yuri Makarov is the General Director of the company «Petropavlovsk — ferrous metallurgy," preparing for the worst, hoping that in the unfortunate circumstances the construction work can continue until 2015. However, contractors have given to the new schedule, on the basis of which the first batch of products will be released in November. To be able to export finished products manufactured by GOK, in 2007 a group of «Petropavlovsk», which includes the company «IRC Ltd», a project was developed to create the Nizhneleninskoye-Tongjiang, held foundation laid in late February of this year.

Construction Mining is focused on the development Kimkano-Sutarskoye iron ore deposit in the Jewish, And Oh, the assets of which 764 million tons of ore. According to preliminary estimates of the volume of investment in the project is about 500 mln. USD. The first phase of launch of the project involves the development of production capacity to 3.2 mln. Tons per annum of iron ore concentrate. The second stage will start after 2015, its main purpose is to increase the annual production capacity to 6.3 mln. Tons of concentrate. Company executives said the preliminary agreement concluded with the production of «Amurmetal» in Khabarovsk, on the supply of products.

At present the company is developing a mine Kuranah located in the Amur region, where 150 thousand tons of ilmenite, and more than 1 million tons of iron ore were produced in the past year. Revenue in 2013 amounted to about 160.9 million. USD at a cost of 41.6 million. USD. In addition to the planned development Kimkano-Sutarskoye deposits the company expects to conduct work and with Garinsky deposit with pre-planned annual capacity of 2.1 mln. Tons of iron ore concentrate.

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