Freeport-McMoRan to be allowed to develop Russian copper deposit.
Edited by Rhod Mackenzie / 2016-03-25 06:50:56
Amur Mining Finance Metals and mining Russia Russia mineral extraction Shares Russia Metals and Mining Copper Gold
The Americans and the Canadians can start developing the Malmyzhsk deposit.
As the "Kommersant" informs, the government is ready to allow "Amur Minerals", a joint venture of the American Freeport-McMoRan (49%) and the Canadian IG Copper (51%), to develop a large Malmyzhsk copper-gold deposit in the Khabarovsk Region. Malmyzh relates to mineral resources of federal significance, and, despite the fact that " Amur Minerals" was a pioneer, the government could ban the production for the company. JV plans to invest $ 1.5 billion into the project in the presence of co-investors, but experts are skeptical about the prospects.
