Nornickel’s copper and nickel ore subsidiary Taimyrsky Mine plans to launch stage 4 of its New Horizons project to replenish depleted ores operated by the company’s Polar division.
Taimyrsky’s ore production capacity is 4.25mt at present. With the launch of stage 4 the ore production capacity the output is expected to increase to an additional 11.89mt. The project could cost the company around $85mn.
The company decided to launch the project after obtaining the necessary permissions and will maintain the mine’s production based on its design capacity. This exploration will unlock access to the mine’s X-1(O) area that contains rich ores and will increase the life of the mine for the next 20 years.