Resumption of mining and processing of tungsten-molybdenum ores at Tyrnyauz deposit

The goal of the project is to create a cluster for the extraction and beneficiation of tungsten-containing raw materials, with a production and processing capacity of 1.5 million tons of ore per year upon reaching full capacity.

Phase 2 of the project is currently underway, and construction of an access road has been completed.

As of the reporting date, a total of 3.93 billion rubles have been allocated for the project. 75 new jobs have been created.

The restriction of the sales market due to sanctions from unfriendly countries from 4,500 tons of tungsten trioxide to 1,900 tons (consumption within the Russian Federation) makes capital investments in the Project irrecoverable, despite a downward revision of the productivity and required capital investment volume.

To further develop the Project, its development strategy has been revised to include greater involvement of associated components (gold) in the extraction process. A new project implementation plan is currently being developed, with production shifting to gold mining.