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Trans-Baikal Territory Population Supports ARMZ Uranium Holding Co. Plans
On August 27, 2009 public hearings regarding the environmental impact assessment (EIA) in connection with the activities of the designed plant which will develop Olovskoye uranium ore deposit took place in the village of Stary Olov in the Chernyshevsk District of the Trans-Baikal Territory. As a result, the assessment was approved. ARMZ Uranium Holding Co. plans were fully supported by the local population.
During the hearings the representatives of ARMZ Uranium Holding Co., its subsidiary Olovskaya Mining and Chemical Company and VNIPIpromtekhnologii — EIA developer — told the local residents and the journalists about their plans to construct and develop the facility, the social importance of this project for the residents of the Chernyshevsk District and the environmental safety measures.
With its reserves estimated at 12,868 tons, Olovskoye ore deposit is being developed by Olovskaya Mining and Chemical Company, a company of ARMZ Uranium Holding Co. According to the construction project, the facility will include an underground mine, a heap leach platform for ore processing, a facility for processing pregnant solutions and the production of yellow cake. After reaching its design capacity in 2018 Olovskaya Mining and Chemical Company will extract 600 tons of uranium per annum. Construction of the facility and development of the deposit will allow to create approximately 1,200 new jobs.