UMMC to expand gold production at Uralelektromed to 35 tns - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UMMC to expand gold production at Uralelektromed to 35 tns

YEKATERINBURG, May 3 (PRIME) -- Russia’s Ural Mining and Metallurgical Company (UMMC) plans to expand annual gold production at its Uralelektromed plant to 35 tonnes in 2025, as seen by PRIME in the materials of the company on Wednesday.

Taking into account expansion of Uralelektromed’s capacities, the plant would need to raise production of its own gold-bearing raw materials by 15 tonnes until 2030 and by 22 tonnes until 2033 to replenish the depleting resources of gold producers Atlas Mining and Susumanzoloto in the long run.

To achieve that, UMMC is ramping up geological exploration works, and is improving the existing gold assets, including the Tokurskoye field in the Amur Region and the Murtykty field in the republic of Bashkortostan. The company has the goal of raising gold reserves in ore by 440 tonnes until 2031 from the current figure of 482 tonnes, UMMC said.

Susumanzoloto became a part of UMMC in the summer of 2022, and UMMC-Invest acquired the main assets of gold company Petropavlovsk Plc as its largest creditor in September 2022. In late April 2023, UMMC renamed Petropavlovsk into Atlas Mining.

End

03.05.2023 14:38
 
 
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