Urals | Materials, extraction

UMMC to invest $11.4m in Safyanovsky mine by the end of 2010

6 Sep '10
The Urals Mining and Metallurgic Company (UMMC) has announced plans to invest $11.4m in construction of an underground ore mine at Safyanovsky metal deposit in Sverdlovsk region by the end of 2010.

The Safyanovsky mine is reportedly to be located 500 meters under the ground, its projected annual capacity is to total 500,000 tons of ore.

The mine is scheduled to be put into commission in 2014.

Total investment into the project has yet to be disclosed.
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