Russia sees 27 bln rbl investment in Pavlovskoye lead, zinc field

ARKHANGELSK, Mar 29 (PRIME) -- Russia sees combined investment in development of the Pavloskoye lead and zinc ore deposit located on the Novaya Zemlya archipelago at 27 billion rubles, the Arkhangelsk Region’s Governor Igor Orlov said on Wednesday during a forum.

“You know that we’ve discovered a new lead and zinc ore deposit on Novaya Zemlya, which is the fourth largest deposit by reserves in the world. This project will be documented as an agreement with Rosatom today. The volume of investments was formed as a preliminary estimate and amounts to 27 billion rubles,” he said.

Commercial reserves of the Pavlovskoye field exceed 2.48 million tonnes of zinc, 549,000 tonnes of lead and 1,194 tonnes of silver under the B, C1, and C2 categories. Rosatom’s unit Atomredmetzoloto (ARMZ) plans to launch an ore mining and processing facility at the deposit after 2020. The facility’s annual projected capacity stands at about 220,000 tonnes of zinc and 50,000 tonnes of lead concentrate, as well as 16 tonnes of silver.

(56.9364 rubles – U.S. $1)

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