Rosgeo and Russian Copper Company JSC (RCC) have signed an Agreement of Cooperation in the field of subsoil use, within the Eastern Economic Forum, today.
Sergey Gorkov, Director General, Chairman of the Board of Rosgeo, and Vsevolod Levin, President of the Russian Copper Company, signed this document.
Under this Agreement the Parties will have an opportunity to set up a joint venture to implement the investment projects on prospecting, evaluation and exploration of new high marketable mineral deposits, as well as development and further operation of the prospected fields.
Besides, the Parties have agreed that Rosgeo and RCC would consider the issues of update, re-evaluation, and in-mine exploration of the reserves in the currently non-exploited (suspended) deposits to put them into the commercial operation, within the framework of joint projects.
This Agreement is the result of collaborative efforts of the both Companies following the negotiations between the Heads of Rosgeo and RCC held in June.
"We are pleased to have signed the Agreement with the Russian Copper Company – one of the largest copper producers in Russia," — Sergey Gorkov, Director General, Chairman of the Board of Rosgeo. "Creating new promising partnerships is in line with our long-term strategy, which is focused on forming marketable reserves and utilizing them for the contribution to the national GDP as early as possible.”
"Creation of the own mineral resource base for loading the available processing plants has always framed our strategy," — explained Vsevolod Levin, President of the Russian Copper Company. "Currently, there is a mine planning and development programme until 2050 in the Company, which is related to both the existing projects and promising areas and ore occurrences. We are interested in searching for promising deposits in all the regions of the Company's presence. We are sure that our cooperation with Rosgeo would facilitate to replenish the mineral resource base for the priority branches of the Russian industry.”
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