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November 01, 2013

MBC Corporation and China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC) sign EPC agreement for Ozerny Mining & Processing Plant in the Republic of Buryatia

As part of the 18th regular meeting between the heads of the Russian and Chinese governments Mr.Medvedev and Mr. Li Keqiang, MBC Corporation and NFC signed the agreement for engineering, procurement and construction of the Ozerny Mining & Processing Plant (Ozerny GOK). Project construction period is 3 years, with production capacity of 8 Mtpa. The cost of construction of the project totals $1,1 billion. This includes the construction cost of mine. processing plant and tailing dam, and also of transport and power infrastructure required for the functioning of Ozerny GOK.

The EPC agreement was signed in pursuance of the agreements concluded by these two companies in March 2013 by Ilya Okhtyrskiy, the MBC Corporation General Director, and Wang Hongqian, the President of NFC.

Ozerny GOK is constructed on the basis of Ozernoe deposit (Republic of Buryatia) reserves estimated according to JORC as 157 MT of ore with 5,2% Zn and 1% Pb. In addition, Ozernoe deposit ore contains 4.5 thousand tons of silver.

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