Udokan is looking for a Russian partner

Alisher Usmanov plans to attract the "copper professional" to the development of the largest deposit.   
Co-owner of Baikal Mining Company (BGK) Alisher Usmanov intends to attract to develop Udokan, one of the largest copper deposits in the world, the Russian "a professional in copper," said the businessman, "Russia 24". BGK - the owner of the license to develop Udokan with reserves of 1.4 billion tons of copper ore.

According to Usmanov, foreign companies also have an interest in the deposit. But the name of the Russian company, he did not name, saying that conditions linked to confidentiality. The representative of "Metallloinvesta" declined to say whom said Usmanov. "There are foreign, who want us, and, by the way, among the giants mayningovogo market. How can you be uninteresting if it [Udokan] one of the world's largest copper mining projects, but with such reserves ", - Usmanov said.

 The fact that Udokan - one of the largest in the world, defines a complex, multi-step process of cooperation with investors and banks passed through the press service of the Chairman of the Board of Directors BGK Valery Kazikaev: "We and our partners are not able to make loud statements until it reaches the final arrangements. " Mastering Udokan is in accordance with the issued license, he added.

Until August 2015 owned BGK "Metalloinvest" directly. Since May 2014 the company was in talks with a Chinese fund hopu, but by June 2015 it became known that the fund will not buy 10% stake in the project. Hopu through Highland fund is then invested in the project development Bystrinsky copper deposit, "Norilsk Nickel", bought 13.3% of the $ 100 million. From 2015 BGK continued to seek investors in the project directly, but with whom negotiations are not disclosed.

Total investment in the first phase of development of Udokan amount to 238 billion rubles. ($ 3.7 billion), from the data bank, which leads the Ministry of Environment in a letter to the Ministry of Economic Development ( "Vedomosti" familiar with the document). With this money, BGK is to build a road to Udokan, power lines, mining and processing plant 12 million tons of ore per year. BGK representative said that "238 billion rubles. They include both capital costs - $ 2.1 billion (. 136 billion rubles at the current rate), and additionally incurred (which - not specified -. "Vedomosti"), as well as, the rate of inflation and the exchange rate set by the VEB for internal use. "