Abramovich’s Baimsky project on Chukotka to start operating by 2022

The Chukotka authorities expect that the Baimsky project on production of non-ferrous and precious metals will start production in 2022 and will give increase in GRP by 45 billion rubles per year, said head of the region Roman Kopin.

The Baimskaya area on Chukotka with its Peschanka deposit was acquired at auction by the mining company Baimskaya, owned by businessman Roman Abramovich's Millhouse, in 2008. In January, the authorities of the Chukotka autonomous district, the Development Fund of the Far East and the Baikal region, as well as entities, controlled by Abramovich's company Baimskaya and Base metals signed an agreement of intent for the project of the development of deposits at the Baimskaya ore zone.