Based on the Kultuminsky gold-iron-ore deposit, located in the Gazimuro-Zavodsky district of the Trans-Baikal Territory, a modern mining and smelting plant is being created for the extraction and processing of iron-copper-gold ore. The development of the deposit will be carried out in an open way. The mine will gradually increase its productivity from 10 to 13 million tons of ore per year until 2029. The enterprise plans to produce copper gold bearing and gravity gold-bearing concentrates. As part of the second stage of the project implementation, the production of iron ore concentrate is being considered.
The agreement between FEDC and the project company, which is valid for 10 years, provides for the creation of almost 1,600 new jobs directly at the enterprise, as well as about 10,000 jobs in contiguous industries. It is planned to complete the construction of the first stage of the Kultuminsky GOK in 2024.