Golevskaya Mining and Ore Company to invest $1,9 billion in development of one of Russia’s largest copper fields

Preparations for development of Ak-Sug field. Photo: Katalog Mineralov

The Golevskaya Mining and Ore Company, one of Russia’s largest mining companies plans to invest about RUB 142 billion (US$1,9 billion) in the development of Ak-Sug metal ore field in the Tuva region, according to the company and some local media reports. The field is located in the hard-to-reach Todzha region, an area with an underdeveloped road network.

So far, the Russian federal government has already promised the investor to provide all the needed support during implementation of the project.

Currently the Ak-Sug field remains one of the largest fields in Russia in terms of copper reserves, which are estimated at 5.1 million tonnes.

The field also contains the reserves of gold of 83 tons. It is planned, a full-scale development of the field will begin in 2023.

By: Eugen Gerden