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AVISMA will take a decision on the development of Tambov deposits of titanium in the coming year

11 December 2012
AVISMA will take a decision on the development of Tambov deposits of titanium in the coming year

«To be or not to be» mining of ilmenite and zirconium in Tambov

region, the management of Titanic Corporation «VSMPO-AVISMA» will decide in 2013. «

the moment the Deposit «Central» is working that

will help us to budget the project, to consider who we will be in

the coming year. Then a decision will be made regarding early development

Titan resources field," — commented General Director

of the company Mikhail Voevodin.

Deposit zircon-rutile-ilmenite ores «Central»

(Rasskazovsky district of Tambov region) was explored in the middle of last

century. The advantage of the asset — the possibility of production of marketable resource less

expensive — «open» method.

It should be noted that this mine is in

the three largest deposits of raw materials for the production of titanium in the world. Therefore, in

the fight for a license for the site was attended by several serious players (including

— Norilsk Nickel, for which the resources of the «Central» are not

profile). However, in the end, the asset went «AVISMA», which became

the owner of the rights to develop the mine last year.

Earlier it was reported that the volume of investment in the project

the development of the resources of the «Central» (including the cost of construction of a quarry and

GOK planned capacity of 3.45 million cubic meters of titanium raw materials) can

to be worth about 100 million U.S. dollars. However, in «VSMPO-AVISMA» ready

to consider the more serious numbers (including more than $600 million). In

the company claim that if the budget is very large, the management of the Corporation

go to the creation of a joint venture with a powerful investor or hold an IPO

to attract the required amount.

10 December 2012
12 December 2012