In the Trans-Baikal Territory, equipment for the processing plant of the Udokan mining and metallurgical plant, created with the participation of Sberbank, was launched, the press service of the financial institution reported. The first launch was conducted by Russian President Vladimir Putin via video conference from Vladivostok, from the Eastern Economic Forum grounds.
As a result of the introduction of equipment at the enterprise, the first copper concentrate has already been obtained.
Sberbank announced that the project is being implemented in the priority socio-economic development (TOR) “Transbaikalia” region, the investment volume is more than 230 billion rubles. The efficiency of the facility will increase up to 15 million tons of ore per year with the production of 150 thousand tons of copper.
According to Alexander Vedyakhin, First Deputy Chairman of the Board of Directors of Sberbank, in 2019 the company, together with VEB.RF and other partners, began financing the construction of a modern, high-tech mining and metallurgical facility for the extraction and processing of copper ore. In the Udokan copper deposit in Transbaikalia, the largest deposit in Russia.
“This is a very important project for the Trans-Baikal Region, it will give impetus to the socio-economic development of the entire region. Thanks to the implementation, new jobs with competitive salaries will be created here and the well-being of the residents will increase,” said Alexander Vedyakhin.
He added that the commissioning of the second phase of the mining and metallurgical complex, planned for 2028, will increase the efficiency of the facility more than 3 times and make it among the 10 largest copper producers in the world.
“Sber is ready to facilitate the launch of such large-scale and important projects for the country, providing not only financing but also our tools and expertise to improve the quality of life in the regions, contribute to the creation of new jobs and economic growth as a whole,” concluded the Company’s First Vice Chairman of the Board of Directors.