[caption id="attachment_1003724708" align="aligncenter" width="470"] Left to right: governor of Zabaikalye Region Natalya Zhdanova, chairman
of Baikal Mining Valery Kazikaev, and general director of Baikal Mining Yury Ryabov. (Image: Baikal Mining Company)[/caption]
RUSSIA – Construction has begun at Udokan, the largest undeveloped copper project in Russia and perhaps the third largest in the world. The owner, private company Baikal Mining
, has a target of 130,000 tonnes of copper annually for the initial phase of the build.
A second phase of development, if undertaken in the future, would boost production to 300,000 tonnes of copper each year.
The official start of construction was marked by the placing of a memorial stone at ground level. The stone contains a special case with a letter to be read by future generations.
The Udokan project has proven and probable ore reserves of 1.5 billion tonnes grading 1.05% copper and 10.8 g/t silver for 15.1 million tonnes of contained copper and 497.7 million oz. of contained silver. (Baikal reports to the Australian JORC standard.)
The deposit may have a total of 26.7 million tonnes of copper and 1.1 billion oz. of silver. The measured and indicated resources is 1.8 billion tonnes at 1.01% copper and 10.7 g/t silver. In the inferred category there are 932 million tonnes at 0.89% copper and 14.3 g/t silver.
Read more at www.BGK-Udokan.ru/en/.