mineral resources
Maikainzoloto resumed mining at Alpys
Maikainzoloto, a Pavlodar oblast-based miner, resumed operations at the Alpys mine after a five-year break, Interfax reported.
Alpys is slated to increase complex ore production to 250,000 tons by 2010. The total reserves of the mine are estimated at over 1.5 ml tons of complex ore.
Alpys, discovered in 1970, was initially developed as an open-cut mine and was abandoned after the surface resources were depleted.
In 2006 new managing company, Russian Copper Company (RCC), Russia’s third largest copper company, began constructing a mine at Alpys and invested $8 ml in the project over the period.
RCC holds a 75% share in Maikainzoloto, while a 25% state share is managed by the Samruk holding company.
Maikainzoloto owns two mineral fields: Maikain and Alpys.
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