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2024: Prime Minister Mikhail Mishustin allocated 4 billion rubles for the extraction and processing of non-ferrous metals in Tuva
In September 2024, Russian Prime Minister Mikhail Mishustin signed an order to allocate ₽4 billion for the implementation of projects for the extraction and processing of non-ferrous metals in Tuva. The funds are aimed at creating energy infrastructure, including the construction of overhead power lines for the mining and processing plant at the Ak-Sugsky copper-porphyry field, which a private investor plans to build. Funding was provided under the state program "Development of industry and increasing its competitiveness."
The construction of the mining and processing plant will be an important step in developing the economic potential of the region and will significantly increase the production of non-ferrous metals necessary for the industrial development of Russia.
According to Kommersant, in early September 2024, the Federal Agency for Subsoil Use (Rosnedra) announced an auction for the right to use the subsoil of the Ak-Sugskoye field. The starting price of the auction was ₽3,47 billion, and the auction is scheduled for December 2, 2024. Applications for participation can be submitted by companies with a share of Rostec in the authorized capital of at least 50%.
The Ak-Sugskoye copper-porphyry deposit, discovered in 1952, is one of the largest copper reserves in Russia. The field is located in the Todzhinsky municipal district of the Republic of Tuva, at a distance of 240 km from the capital of the region - Kyzyl. As part of this project, it is planned to build a mining and processing plant with a capacity of up to 24 million tons of ore processing per year.
Previously, the right to develop the field belonged to the Golevskaya GK company, which is part of Mikhail Prokhorov's Intergeo. However, due to the revocation of the license for the exploration and extraction of copper, the project was temporarily suspended. The company planned to complete the construction of the plant by 2026, but now new bidders will take part in the auction.[1]
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