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Russia and China: the negotiations on the development of "the Lake" continues

25 February 2014

According to Michael Slipenchuk, a State Duma deputy, negotiations are continuing with representatives of the Peoples Republic of China for the development of «the Lake» polymetallic deposits. Agreement on the development of the field and the construction of GOK was signed with Chinese investors, even in 2013, but the works are «a framework». However, M. Slipenchuk sure that the beginning of active work on the development of the deposit is not far off.

In the meantime, potential investors do not display sufficient zeal in investing in the development of the «Lake District». Apparently, the main reason is to reduce the value of a sufficiently large number of minerals, among which and zinc included. However, 2014 started with a rise in prices for minerals, and this fact, as the hopes of M. Slipenchuk be able to sufficiently accelerate the process of negotiations with investors.

Previous agreements between the «MBC» and the Chinese investor does not specify any specific action, did not indicate the specific amount and were, therefore, only a framework. At the beginning of 2014, has not yet determined the conditions under which the work will be carried out, but the negotiations are continuing. On the part of China signed an agreement, «China International engineering and construction company in ferrous metallurgy» and «Bank of China», the ceremony was held March 22, 2013 in Moscow at the time of his arrival in Russia, Xi Jinping, the new head of China. The next step was the signing in Beijing in October last year the contract for the construction of «the Lake» mining and processing plant between the company «MBC» and «the NFC», the cost of the project amounted to 1.5 billion USD.

The result of the agreements was the decision to establish a joint venture, the main purpose of which is the construction of Mining and industrial development of the «Lake District» polymetallic deposit. Performance «Lake District» GOK — 8 million tons of ore, its construction will be in Buryatia company «MVS» resource-based «Lake District», which is estimated at 157 million tons. The metal content of the ore is 5.2% zinc and 1% lead, and the amount of silver in the ore is 4.5 tons. Mining company, built on the site «Lake» was put into operation in autumn 2010, the first ore production was made in 2011. At the moment, the works on construction of pilot plant for the enrichment of ore.

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