18
June
2012
The MBC corporation and China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. entered into a framework agreement.
The signing ceremony took place in Moscow on April 28, 2012 in
the framework of Russian-Chinese trade and investment forum in the
presence of First Deputy chairman of the government of the Russian
Federation Igor Shuvalov and Deputy Prime Minister of the State
Council of China Wu Yi Li Keqiang. On the Russian part the
agreement was signed by General Director MBC Corporation Ilya
Okhtyrskiy, and from the Chinese part - by the CEO of NFC Van
Huntsyan.
The document stipulates that the Chinese partner will
participate in the industrial development of Ozernoye complex
deposit located in the Republic of Buryatia and in the construction
of Ozerny GOK. In accordance with agreement NFC shall purchase a
50% share in Ozerny project. The companies will further enter into
an integrated contract to manage the design, procurement and
construction of the Ozerny GOK (the so-called EPCM contract), as
well as a contract for the supply of marketable products of the
Ozerny GOK. In addition, NFC will arrange debt financing
construction.
Background:
The Ozerny GOK that will
be capable of turning out 8 million tons of ore per year is being
constructed by ESM Corporation, a member of the METROPOL Group of
Companies in the Republic of Buryatia on the basis of reserves of
Ozerny deposit evaluated in the amount of 157 million tons in
accordance with JORC Code. The content of metals in the ore is 5,2%
Zn and 1% Pb. In addition, the ore from the Ozerny deposit contains
silver in the scope of 4.5 thousand tons. In October 2010, a mining
facility with the capacity of 1 million tonnes of ore per year was
commissioned on the site, and in 2011. the first batch of ore
was mined. Currently, the construction of a pilot enrichment plant
is under way.
Chinese company China Nonferrous Metal Industry's Foreign
Engineering and Construction Co., Ltd. (NFC) is mainly engaged in
international contracts for the design and construction of
industrial facilities, as well as the development of mineral
resources of ferrous metals. The company's activities include
the entire cycle of design, technical consultancy, supply,
installation and start-up of processing equipment, staff
training, etc. NFC carried out its projects in the Middle East,
Africa, Southeast Asia and CIS. The company has been several
time included onto the lists "225 most powerful international
contractors" and "200 most powerful international designers"
according to the estimates of ENR, a reputable international
publishing house that specializes in engineering.
The General Director of MBC Corporation Ilya Okhtyrskiy (left) and
General Director of NFC (China) Wang Huntsyan after signing the
framework agreement
NFC management: CEO Van Huntsyan (right) and his deputy, Qin
Tszyunman
