Russian Copper Co says to invest 12 bln rbl in Karabashmed plant

CHELYABINSK, Oct 23 (PRIME) -- Russian Copper Company plans to spend 12.2 billion rubles on upgrade of its copper plant Karabashmed until 2022, the company said in a statement on Wednesday.

“Russian Copper Company will allocate about 12.2 billion rubles to expand the capacities of Karabashmed until 2022. The company plans to raise the capacity of the blister copper plant by about one-third to 230,000 tonnes per year and to set up a new site for production of copper anodes with a capacity of 265,000 tonnes per year,” Russian Copper Company’s President Vsevolod Levin told the Chelyabinsk Region’s Governor Alexei Teksler, as quoted by the company.

The company plans to build the fourth converter and two anode furnaces at the plant worth 6.5 billion rubles, he said.

Karabashmed will start production of anodes in 2021. The plant will deliver the anodes to the Kyshtym Copper Electrolytic Plant, allowing the latter plant to raise the capacity of its copper electrolysis unit by almost 65% to 230,000 tonnes of cathodes per year.

(63.6336 rubles – U.S. $1)

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