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This article analyzes the large-scale key projects currently being implemented in the Russian mining industry. Investors’ focus is increasingly on the Far East and the Arctic regions, which have launched over 140 mining and metallurgical projects. Below are the key projects currently under active construction. (Report excerpt translation from Russia Construction Machinery Network)
Russia’s Largest Gold Reserves
Sukhoi Log deposit in Bodaybo District, Irkutsk Oblast
Company: PJSC Polyus
Location: Irkutsk Oblast
The Sukhoi Log deposit in the Bodaybo District is known for its harsh climatic conditions: most of the time it is severely cold and the soil is covered with permafrost. Yet, it is in these inhospitable areas that nearly 28% of Russia’s gold reserves are concentrated.
The main construction phase of the mine is to begin in 2025. Sites for key process facilities have already been prepared. To ensure logistics, a 16.3 kilometers road connecting the Sukhoi Log mine to the Verninskaya gold processing plant has been built.
The deposit’s first gold ingot was cast in October 2024. Full-scale production is scheduled to begin in 2027. At that time, the ore processing capacity will reach 30 million tons per year.
Sukhoi Log is expected to become one of Russia’s and even the world’s leading gold mining enterprises. Despite the low average gold content in the ore (about 1.9 grams per ton), the total reserves are estimated to be around 60 million ounces of gold. The total investment for the project amounts to 820 billion rubles.
Russia’s Finest Copper
Udokan Copper Plan – One of Russia’s largest copper mines
Company: Udokan Copper (formerly Baikal Mining Company)
Location: Zabaykalsky Krai
A new mining metallurgical complex is being built at the Udokan copper deposit in Zabaykalsky Krai. The total investment exceeds 289 billion rubles. The project is being implemented in stages: the first is to be completed by 2025, the second by 2028.
The project aims to place Russia among the world’s leaders in copper mining. The first stage plans to produce 150,000 tons of copper per year, including sulfate concentrate and refined copper. By the end of the second stage, the annual output will increase to 500,000 tons of cathode copper.
Innovative processing methods for oxidized ore make it possible to develop deposits that were previously considered economically unviable. The quality of copper mined here is considered to be one of Russia’s finest.
Russia’s Northernmost Mining and Processing Plant
Pavlovsky Mining and Processing Plant on the Southern Island of Novaya Zemlya
Company: First Ore-Mining Company (Rosatom)
Location: Arkhangelsk Oblast
The Pavlovskoye lead-zinc deposit on the Southern Island of Novaya Zemlya is one of the largest in Russia. Initially, it was planned to build a floating mining and processing plant inside the Arctic circle, but sanctions forced a change of plan. Therefore, the construction of the mining and processing plant will move to the coast and begin in 2025. At the same time, port infrastructure, roads, and energy facilities will be built. The total investment exceeds 53 billion rubles. The construction of the new complex is expected to create about 900 jobs. It is scheduled to become operational in 2026.
The project is set to become the northernmost mining enterprise in Russia. Its operation will bring new opportunities for the exploitation of Novaya Zemlya’s manganese, phosphate, uranium, gold, and other mineral resources.
Rare Earth Elements Mining
Africanda Mining and Processing Plant – has Russia’s largest deposit of titanium rare metals
Company: Arkmineral-Resource JSC
Location: Murmansk Oblast
Africanda Unlike the projects mentioned above, the Africanda deposit in the Arctic region has been mined since the Soviet period. However, issues such as poor quality of the mineral resource base and outdated production equipment existed. The solution is to construct a new, modern mining and processing plant.
The ilmenite and titanomagnetite deposits at Africanda are considered one of the world’s largest. The estimated ore reserves here exceed 600 million tons.
Despite its location in the complex conditions of the Arctic region, the deposit is only one kilometer away from the village of Africanda-2. Existing infrastructure includes roads and railways, electricity from the Kola Nuclear Power Plant, and access to ports in Murmansk and Kandalaksha.
The implementation of the project is expected to create approximately 650 new jobs. The investment estimated for the project is 18 billion rubles.
The products planned to be produced on the Kola Peninsula are expected to compete successfully with China. The main export route will proceed through the Northern Sea Route, with key sales markets in Southeast Asian countries.
Over Three Tons of Gold Annually
Svetlovsky Mining and Processing Plant
Company: PJSC Vysochaishy (GV Gold)
Location: Irkutsk Oblast
The construction of the Svetlovsky mining and processing plant at the Svetlovsky deposit in the Bodaybo District of Irkutsk Oblast is nearing completion. Official launch is scheduled for September 2025. This will become one of Russia’s largest gold mining enterprises.
The plant will be able to process up to 3.5 million tons of ore per year, and after reaching design capacity, it is expected to produce about 3.1 tons of gold annually. Over the ten years of the deposit’s development, the company will invest approximately 17 billion rubles in infrastructure, shift villages, and auxiliary facilities.
The Svetlovsky deposit’s ore is highly enriched, with gold recovery efficiency reaching 88%.
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