The Oleny Ruchey mine, which is located in the central parts of the peninsula will start production in May 2012, company Vice-President Sergey Fyodorov confirmed this week, MBnews.ru reports.
The mine will after four years of operations produce an annual 300,000 tons of apatite concentrate. After 11 years of operations, the annual production will reach peak production of 1,9 million tons of concentrate, the company website informs.
The first development part of the project has an estimated price tag of 265 million USD. Another 129 million USD is planned spent on a second development phase.
