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November 19, 2010

MBC Corporation plans to build Ozerny GOK in cooperation with Metallurgical Corporation of China

In the second half of November the MBC Corporation’s headquarter will meet Chinese delegates from Metallurgical Corporation of China and its international branch MCC Overseas Ltd.

The main goal of the visit is to continue the negotiations on cooperation for building Ozerny GOK erected by the MBS Corporation in the Republic of Buryatia. Besides, both parties will take part in the Fifth Russian-Chinese Economic Forum scheduled to be on November 24 in Moscow and is going to be one of the key economic events of Russian-Chinese cooperation this year.
The November meeting in Moscow will continue the long-term and successful search for mutually attractive forms and conditions of cooperation between the MBC Corporation and MCC Company.

This year has already seen three key negotiation rounds (in May, July and October) (reported earlier), which, together with the upcoming meeting, mark important stages in building a business relationship between the companies.

Ozerny GOK is being constructed by the MBC Corporation in the Republic of Buryatia and it is based on Ozernoye polymetallic deposit with 157 million tons of ore resources according to the JORC Code. Metal concentration is 5,2% Zn and 1% Pb. Besides, ore in the Ozernoye deposit contains 4,500 tons of silver. A mining plant with a capacity of 1 million tons of ore per annum was put into operation in October 2010 on the deposit industrial site, and an experimental industrial processing plant is being constructed.


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