The long-awaited Udokan project in Russia's far east is coming on stream at a challenging time.
Copper concentrate production started at Russia’s largest undeveloped copper deposit on Monday following a ceremony overseen by President Vladimir Putin via video link.
The project, however, relies on its proximity to top metals consumer China and on demand there, as well as future demand from the global green energy transition.The processing plant at Udokan will produce sulphide copper concentrate with 40-45% metal content, the company said. It plans commercial sales this year, but has not disclosed potential buyers yet.
The deposit is the largest in Russia with an estimated 26.7 million tons of copper resources. It has been untapped since its discovery in 1949 because the technology didn’t exist to exploit its unique and difficult-to-extract ore.
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