OREANDA-NEWS. Mine No. 6 will allow to put into operation Argunskoye and Zherlovoye deposits of Streltsovskoye ore field. The deposits account for 35% of the total reserves of the Russia’s largest uranium mining enterprise, and indicate higher average uranium grade than the existing mines, which allows to ensure a competitive production cost.

"Not only employees of our association, but also all the residents of Krasnokamensk were looking forward to the favorable conclusion of Gosexpertiza and the start of the project. It is no secret that the reserves currently developed at our mines are nearly depleted. Construction of Mine No. 6 with commercial reserves of about 38 thousand tons of uranium will ensure further development of PIMCU and prosperity of the city," said Deputy General Director, Executive Director of the ARMZ Uranium Holding Co. Victor Svyatetsky.

At the meeting of the Federation Council dedicated to the legislative support of the development of the uranium mining industry, the project has been recognized as "strategically important for the development of the uranium mining industry in Russia."

Construction works are to begin later this year. During the first phase, mine water treatment system will be built, followed by other above-ground facilities. Thereafter, shaft sinking is scheduled to start. The bulk of the works is scheduled for completion in 2022.

Mine No. 6 construction project is also an important part of the plans for socio-economic development of Krasnokamensk. As is known, currently the Russian Government is considering a possibility to create a Priority Socio-Economic Development Area in the city. Economic stability of the city’s backbone enterprise is an important condition for investors planning to build new mining facilities in the city.

It should be noted that the construction of Mine No. 6 is not an end, but continuation of the development of one of the world's largest uranium ore districts. During operation of Mine No. 6, Caldera Project will be completed, that includes further exploration of Streltsovsky ore field. According to the results of exploration of the area, ARMZ Uranium Holding Co., will establish the long-term development strategy and provide the enterprise with commercially viable reserves for decades to come.

The Director of VNIPIpromtekhnologii Yuri Dmitrak congratulated the entire staff of the Engineering Center on the most significant recent success: "We have worked as a team and once again proved our high qualification and ability to solve any problems which are set before us. We have developed high-quality project which has great significance for the entire Rosatom Group, not just its mining arm. Due to the responsibility and professionalism of VNIPIpromtekhnologii’s team, Rosatom will be provided with the strategic raw material for decades to come."