«Удоканская медь» признана лучшим стратегическим инвестором на Дальнем Востоке
10 December 2021

Udokan Copper recognized as the best strategic investor in the Far East

Udokan Copper (part of the USM diversified group of companies), a company that develops the Udokan copper deposit in the Zabaikalye Territory, has received the Star of the Far East Award as the winner of the Strategic Development nomination.

“In 2021, we have almost completed the construction of the buildings of the plant, as well as the energy and transport infrastructure facilities. The successful implementation of the project has enabled us to begin the feasibility study for Stage 2 with investments exceeding $4 billion. Stage 2 will increase the processing capacity of the plant to 40 million tons of copper per year. <p> </p> <p> Stage 1 of the project alone will create about 3,000 jobs at the plant itself and up to 20,000 in related industries. Moreover, already before the launch of production, our social investments in the region exceeded 1.7 billion rubles,” noted Valery Kazikaev. </p>

The award was presented to the Udokan Copper Chairman of the Board Valery Kazikaev by the Minister for the Development of the Far East and the Arctic Alexei Chekunkov.

Udokan is the largest untapped copper deposit in Russia and the third largest in the world in terms of reserves. The company is currently building a mining and metallurgical plant and related infrastructure at the site.

The company is currently supporting the development of Novaya Chara settlement located in the vicinity of the deposit. A new residential quarter has been designed for the settlement. The company also contributed to the construction of a square park, children’s playgrounds, and an indoor ice hockey rink.

Moreover, a cultural, a sports, and a medical centre are planned to be built in the settlement within the framework of a concession agreement. The memorandum of intent about it was signed between the company, the Zabaikalye Territory and the Ministry for the Development of the Russian Far East and the Arctic at the Eastern Economic Forum in September 2021.

In addition, Udokan Copper has developed a project of reconstruction for the airport in the settlement of Chara. The company also supports the local Evenk community and implements social projects in Chita and other cities and settlements of the Zabaikaye Territory.

 “The Star of the Far East” is an annual social and business award that is aimed at raising awareness about the opportunities existing in the Far East of Russia, as well as at marking the contribution of individuals and businesses to the development of the region and drawing attention to social and business projects. More than 100 executives, companies, public figures, and journalists have been presented with the award for their significant contributions to the development of the Far East.

The award is supported by the office of Yury Trutnev, the Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District, the Ministry for the Development of the Far East and the Arctic, and the Corporation for the Development of the Far East and the Arctic.