24
November
2010
Metropol Group of Companies Signs Agreement with Metallurgical Corporation of China
The signing ceremony took place between Metropol Group
of Companies and Metallurgical Corporation of China at the Fifth
Russian-Chinese Economic Forum today. The document was signed in
the presence of the Chinese Prime Minister Wen Jiabao, pursuant to
which the Chinese partner will take part in the construction of
Ozerny GOK and buy the plant’s produce.
Today’s event has brought to a new level the relations between the
two companies. By that moment a contract has already been signed
for the purchase of zinc and lead concentrates between MBC
Corporation and MCC Overseas (an MCC company). According to the
contract, the Chinese party will purchase at least 40% of the
plant’s planned annual output, which is 740,000 tons of zinc and
110,000 tons of lead.
The day before, on November 23, negotiations took place between
the extended delegations of the host party and MCC at the Metropol
office. Metropol was represented by Head of the Group M.V.
Slipenchuk. The parties discussed the details of the agreement for
the construction of Ozerny GOK.
Ozerny GOK is being constructed by MBC Corporation in the
Republic of Buryatia, on the Ozernoye polymetallic deposit that
holds 157 million tons of ore according to JORC.
Metal concentration is 5.2% Zn and 1% Pb. In addition, the ore
at the Ozernoye deposit contains 4,500 tons of silver. In October
2010 a mining enterprise was commissioned on the industrial site,
with a design capacity of 1 million tons of ore per year. The
construction of an experimental processing plant is currently under
way. A development plan for the mining process at the Ozernoye
deposit for 2011 will be submitted to Rostekhnadzor in
December.
