Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The First Ore Mining company (FOMC) is launching a project to develop the Pavlovsky metallic deposit, one of the largest mines in Russia, located in the Arkhangelsk region. 


The project, approved by the state Arctic Commission, is projected to contain 47.7mn mt of ore reserves that include 2.49mn mt of zinc and 549,000mt of lead, sufficient for up to 35 years of production.


The plant will include a mill with a capacity to process 500,000mt of ore per year and is anticipated to produce as much as 47,000mt of lead concentrates and 223,000mt of zinc concentrates per year. The total yearly ore recovery is projected to reach 2.5mn mt per annum.


The full investment will total RUB71bn ($924.42mn) and FOMC will also collect RUB7bn as state support granted from a budget set aside for the construction of infrastructure facilities. The project entails building the northernmost mining initiative, globally.


The company has already completed the exploration, engineering surveying, and designing of the Pavlovsky mining and processing plant along with the seaport.


The development is being executed in partnership with technology associate, Metso Outotec. The two companies signed a cooperation agreement in 2019 seeing that Outotec would develop wide-ranging production technology for the required mining processes.


($1 = RUB76.78)

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