RCC won the Russian Mining Excellence Award for the Malmyzh project
The Company was a winner in the Investment Project of the Year nomination
Russian Copper Company (JSC RCC, Ekaterinburg) won the annual Russian Mining Excellence Award. The Malmyzh copper deposit development project that RCC is implementing in the Khabarovsk Territory was the winner of the Investment Project of the Year nomination.
The jury praised RCC's contribution to the development of the Russian mining industry, as well as the effectiveness of organizing investment financing for the development of the Malmyzh deposit.
RCC acquired the Malmyzh deposit in 2018. In the wings of the 5th Eastern Economic Forum (2019), the company signed a facility agreement with the Far East Development Fund regarding the design and construction of a mining and processing plant at the Malmyzh deposit. In addition, at the forum RCC signed a memorandum of cooperation with Gazprombank, Sberbank, and VEB.RF, Russia’s national economic development institution. According to the memorandum, the parties will consider the possibility of providing to the Company a syndicated loan with the state support measures under the Project Finance Factory, a program by the Russian Government.
To develop the Malmyzh deposit in two stages, in 2023-2024 the launch of a mining and processing plant with the annual processing capacity of 56 mln tons of ore is planned. The new enterprise will create 2,500 high-performance jobs and will become one of the most high-tech enterprises in the industry. The best global technology and equipment suppliers are involved in working on the mining and processing plant project. The project operator is Amur Minerals LLC. The total project budget is currently estimated at RUB 142.5 Bln.
RCC receives the Russian Mining Excellence Award for the third time. In 2011, the Company was the winner in the Investor of the Year nomination, and in 2017 – in the Socially Responsible Company of the Year nomination.
The Russian Mining Excellence Award was established by the MINEX forum in 2007 to independently evaluate and promote the achievements of Russian and international companies in developing best practice subsoil use in Russia. The prize award committee includes Russian and international experts with many years of experience in the industry. The prize is awarded in eight categories, which cover all aspects of mining - from technology and investment to personnel policy, ecology, and social responsibility.