UGMK invests around rub 1 bn in development of Shemur deposit

UGMK (Ural Mining and Metallurgical Company) will invest 1 bn rub in development of Shemur copper ore deposit. The first deliveries of ore to combine Svyatogor (a part of UGMK) are planned for summer 2010.
Andrey Kozitsyn, General Director UGMK told: “World markets have revived, the volumes of sales of finished product have been restored. All these allow the company investing funds in further development of their capacities”.
Development of Shemur deposit (a part of group North ores of the Sverdlovsk region) allow delivering to Svyatogor 800- 1000 kt/y of ore. Generally resources of deposit will be enough for 20 years of development.