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ARMZ to Launch its Northernmost Mine
Within the next two years, through its First Ore Mining Co (pgrk) subsidiary, Russia's ARMZ Uranium Holding Co will invest RUB 12-14 billion ($185-$215 million) in the supporting infrastructure for and the construction of an open-pit mine on the Pavlovsk deposit in Novaya Zemlya. This archipelago in the Arctic Ocean in northern Russia is almost uninhabited due to the especially harsh climate conditions, complete absence of any civil infrastructure and large-scale nuclear tests that took place there when it was part of the Soviet Union. A project of this magnitude is unprecedented, as Russian mining companies have no experience operating mines on the islands near the Polar Circle. Pavlovsk is a polymetallic deposit with 37 million metric tons (mt) of ore that represent as much as a fifth of the world's reserves in terms of zinc with 1.91 million mt. It also contains 549000 mt of lead and 1,194 ml of silver.
ARMZ to Launch its Northernmost Mine
Within the next two years, through its First Ore Mining Co (pgrk) subsidiary, Russia's ARMZ Uranium Holding Co will invest RUB 12-14 billion ($185-$215 million) in the supporting infrastructure for and the construction of an open-pit mine on the Pavlovsk deposit in Novaya Zemlya. This archipelago in the Arctic Ocean in northern Russia is almost uninhabited due to the especially harsh climate conditions, complete absence of any civil infrastructure and large-scale nuclear tests that took place there when it was part of the Soviet Union. A project of this magnitude is unprecedented, as Russian mining companies have no experience operating mines on the islands near the Polar Circle. Pavlovsk is a polymetallic deposit with 37 million metric tons (mt) of ore that represent as much as a fifth of the world's reserves in terms of zinc with 1.91 million mt. It also contains 549000 mt of lead and 1,194 ml of silver.
ARMZ to Launch its Northernmost Mine
Vladislav Vorotnikov (author)
2016
Article (Journal)
English
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