The investment project will be implemented at the Ermakovskoye deposit in Buryatia
The Russian government has expanded the boundaries of the Buryatia priority development area for the project to resume production of beryllium products at the Ermakovskoye deposit. The license for the beryllium and fluorine deposit is owned by the Ermakovskoye company of the same name, owned by Vladislav Sviblov, PrimaMedia reports.
Beryllium is used by enterprises in the nuclear, space, electronic and electrical industries, in the production of rocket technology, as well as for the manufacture of computer boards, mirrors and ceramics.
The project is aimed at resuming the production of beryllium products at the Ermakovskoye deposit. The planned project implementation period is from 2024 to 2034. The total estimated capital investment during the investor’s activity is 6.4 billion rubles.
In 2005, at the time of licensing, the reserves of the Ermakovskoye deposit were estimated at 1.4 million tons of ore containing 0.8% beryllium and 19% fluorite. Ermakovskoye, like the Ozernoye polymetallic deposit, is Sviblov’s flagship project in Buryatia, and previously belonged to Mikhail Slipenchuk’s Metropol Group.
Vladislav Sviblov’s main asset is the Highland Gold Group (HGM), one of the largest Russian gold miners with enterprises in the Khabarovsk and Kamchatka Territories, Transbaikalia and Chukotka.
Sviblov’s structures are also implementing a project to build a mining and processing plant at the Ozernoye polymetallic ore deposit in Buryatia. Due to the fire that occurred at Ozerny in November 2023, the launch of concentrate production is postponed until at least the third quarter of 2024, and the launch of the plant at full capacity has been postponed until 2025.
The total investment in the Ozerny project was previously estimated at 92.7 billion rubles. The deposit reserves amount to 157 million tons of polymetallic ores, making it one of the largest zinc-lead deposits in Russia.