Press Room

Newsletter subscription

You can get press releases, presentations and up-to-date information from our company by subscribing to newsletters at our site.

Udokan Project consolidates scientific potential

RSS 04 April 2017

Baikal Mining Company held a round of meetings within the framework of the enlarged Technical Council of the Company dedicated to substantiation of the optimum method for the opening and development of Udokan copper deposit and determination of the optimum phasing, capacity, sequence of development, quality of the mined ore and timeframes for the start of development of areas of the deposit up to complete development of all reserves.

Experts from PiterGORproject, GiproRIVS, Geotechnology Scientific and Research Center, SPb Giproshakht, Giprotsvetmet and Hatch Engineering and Consulting presented their studies and proposals during the event.

Commenting on the proposals submitted for consideration, Member of the Technical Council of the Company, Professor of College of Mining at National University of Science and Technology MISIS, Doctor of Science (Engineering) and Fellow of Russian Academy of Natural Sciences Jack Kazikaev stated: “Execution of such a large-scale project requires focusing of attention not only and not so much on the past experience as on potential risks and possibilities the future holds. One should understand full well that requirements to the level of environmental security and technological efficiency of the project will only get more and more severe in the future. Therefore, it is essential at this stage to find the solutions and consider the best available technologies that will actually allow to make a breakthrough in the mining science and get the maximum effect from the Project implementation with the minimum costs over an extended timeframe.”

Determination of the optimum opening and development method is one of the most important stages of Udokan deposit development. Baikal Mining Company has completed numerous studies to single out Stage 1 of deposit development and prepared the International Feasibility Study for the Project. However, it is the optimum phasing, capacity, sequence of development and quality of the mined ore which will be crucial for cost-effective development of one of the largest undeveloped copper deposits globally.

In the opinion of Member of the Board of Directors of Baikal Mining Company and General Director of LLC RT - Global Resources Rodion Sokrovishchuk, “economic efficiency of the Project in the long term and its appeal for investors directly depend on the quality of technical solutions evaluation at the engineering stage. The management decided quite correctly that the key decision on the optimum method of the deposit development should be made with due account for the opinions and recommendations of major R&D institutes.”

Summing up the results of the event, General Director of Baikal Mining Company Yury Ryabov pointed out that the Company was soon proceeding to Design Documentation development phase. He believed it critical that Design Documentation be based on the most efficient and technologically well-grounded solutions. “Udokan deposit is a unique and complicated project with a long planning timeframe. Its implementation requires not only significant financial but also significant scientific resources. Efficient use of modern scientific and technological potential is a foundation for high economic performance of the Project,” he highlighted.

← return
↑ Top