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March 26, 2010

China’s Executive Authority has showed interest in Ozernoye deposit investment project

A working meeting of the Russian-Chinese business council with the vice-chairman of the China’s State Development and Reform Commission and the director of China’s National Energy Administration, Mr Zhang Guobao took place in Moscow on March 23, 2010.

At the meeting, several important Russian projects of potential interest to China were discussed. One such plan was the investment project to develop the Ozernoye deposit and construction of Ozerny Mining and Processing plant which was presented in detail to the Chinese colleagues by S.N. Garichev, the deputy general director of the MBC Corporation.

After the presentation of the Ozernoe project and discussion of its advantages and investment appeal, the parties agreed to continue negotiations this May in Shanghai within the framework of the Mining and Asia Focus 2010 exhibition.

At present, MBC Corporation is getting ready for the tender on complete deliveries of equipment for Ozernyy Mining and Processing plant: mining technology, ore-dressing and processing plant as well as a thermal power station. Among the companies which submitted their applications to participate in the tender there are some Chinese enterprises.

The Ozernoye deposit stores 157 million tonnes of ore (according to JORC code) and is comparable to the world’s largest deposits of zinc.

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