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BGMK start prospecting titanium and iron ore on a small Tagul station

1 April 2011
BGMK start prospecting titanium and iron ore on a small Tagul station

Specialists

«Baikal mining» this summer will begin

geological exploration of iron —

titanium mines on the 6th plot

Malo-Tagulskoye field. Company

got it for 94,5 million roubles for

auction held in March last

year.

According to Olga

Yu Gajkovoj, the Minister of natural

resources and ecology of Irkutsk region,

BGMK plans to build on the plot

the plant, which will produce metal

technology DRI (the direct

recovery). This way of processing

concentrate in a rotary kiln

minimizing

waste disposal. Now employees

metallurgical companies are

in the stage of site selection for the construction

plant.

Plot No. 6 Malo-Tagulskoye

iron — titanium mine located

on the border of the Taishet and Nizhneudinsk

districts of the Irkutsk region, 140 km. from the city

Tayshet and 130 from Nizhneudinsk. The nearest

village Gutara, which is

22 km from the license area. Deposits

minerals on it

preliminary data exploration

be:

  • 338 000 t of vanadium oxide (VO) when the average content in ores 0,19%;
  • 8 million tons of oxide titanium (TiO) at a concentration of 4.62%;
  • More than 45 000 000 tons iron (Fe) at an average grade of 26%;

The current owner

plot — LLC «Baikal mining» —

plans to invest in the project about

$2 billion the founders of the company — OOO

«Asian investment group»

(PRC), which owns the main pack

securities and LLC «Metallurgical

investment group», the controlling

11% of the shares.

31 March 2011
4 April 2011