Russia’s Rusnano, MBC to set up 7 bln rbl beryllium firm

MOSCOW, Feb 22 (PRIME) -- Russia’s state-run nanotechnology company Rusnano and Russian mining company MBC Corporation have launched a project to create a 7 billion ruble beryllium mining and processing company, Rusnano said Wednesday.

Rusnano is to contribute 3.5 billion rubles to the project.

The company is expected to cover in full the domestic demand for beryllium, used in nuclear and aerocosmic industries, and in the production of telecommunication equipment. Now Russia imports beryllium.

According to the project, the company is to produce beryllium hydroxide, which is to be further processed at Kazakhstan’s Ulba Metallurgical Plant, while raw materials will be supplied from the Yermakovskoye beryllium deposit located in the constituent republic of Buryatia.

The MBC Corporation, also known as Metally Vostochnoi Sibiri, comprises an association of mining companies within the Metropol Group, one of Russia’s largest investment industrial groups.

(29.7796 rubles – U.S. $1)

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