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ARMZ Uranium Holding Co. and Arkhangelsk Region Government planning to sign Cooperation Agreement
Next week, representatives from JSC Atomredmetzoloto will pay a visit to the Arkhangelsk Region, where the company is carrying out a large-scale project to develop the Pavlovskoye argentiferous lead-zinc deposit.
Within the framework of the visit, a meeting involving the participation of Arkhangelsk Region Governor Igor Orlov, as well as a meeting with prospective partners under the project – various business entities and governmental organizations – will be held. A range of key issues is planned to be discussed, such as development of the infrastructure on the Novaya Zemlya archipelago, establishing air and marine traffic, employment of local population and engagement of contractors in the facility construction, and also attracting additional investment to the region.
“We are interested in building up partnership relations. This creates favourable social and economic conditions that facilitate both efficient implementation of individual projects and general development of the region. Within this mutually beneficial collaboration, we are willing to consider any constructive suggestions,” Director General of ARMZ Uranium Holding Co. Vladimir Verkhovtsev assured.
Intentions of the parties will be formalized by a Cooperation Agreement expected to be signed on March 11, 2015.
For reference: The Pavlovskoye deposit is a part of the Bezymyansky ore field. Its mineral resource base is estimated to amount to 9.5 million tonnes of ore (the 5th ranking worldwide). Its advantages include shallow occurrence of ore bodies; relatively simple geological structure, open-pit method and good ore preparation characteristics. A license to develop this site of subsurface resources is held by JSC First Ore-Mining Company, a subsidiary of the holding company. Currently, mining technology is being fine-tuned and negotiations with prospective consumers are being conducted. One more task to be fulfilled in 2015 is to approve a feasibility study of permanent exploration conditions and field reserves. Based on this study, Russia’s northernmost mining facility with rated capacity of 2.5 million tonnes of ore per annum will be built. Commercial exploitation is scheduled to commence in 2019-2020.