Russian President Vladimir Putin launched the Udokan hydrometallurgical plant.

Our new plant was officially launched at the Eastern Economic Forum, in the presence of Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy Yuri Trutnev, Chairman of the Board of Directors of Udokan Copper Valery Kazikayev, and CEO Alexey Yashchuk.

"I congratulate the Udokan Copper team on producing their first copper cathode. The company is doing a great job producing a sought-after metal, a value-added product. I wish you success in your future development," said Yuri Trutnev, Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District.

Udokan Mining and Metallurgical Company became the first full-cycle production complex in Russia built from scratch. From ore mining to the production of 99.99% copper cathode, this represents a new stage in the production of a metal critical to modern technologies.

"The launch of the hydrometallurgical plant is a significant event for us. From a historical perspective, it represents a significant journey: from the discovery of the deposit in 1949 to the production of copper cathode." The Udokan deposit is unique in its composition and required a special approach. "The hydrometallurgical production is based on a unique Russian patented technology developed by the company's employees," noted Valery Kazikaev, Chairman of the Board of Directors of Udokan Copper.

The hydrometallurgical plant is carbon neutral. The company offsets all direct and indirect emissions by purchasing 1,000 carbon units. This is part of the company's strategy to reduce its carbon footprint and strive for climate neutrality.

The first stage will have an average annual production capacity of 150,000 tons of copper (concentrate and cathode copper).

"Udokan is based on cutting-edge and state-of-the-art technological solutions: a unique patented processing technology, predictive analytics, automated control systems, and robotics. We are creating a benchmark for safety and efficiency in the industry. I am proud of the people who brought this project to fruition," noted Alexey Yashchuk, CEO of Udokan Copper.

The project was implemented with the active support of the Russian Government, the leadership of the Trans-Baikal Territory, and a syndicate of banks: VEB.RF, Gazprombank, and Sberbank. This is a shining example of successful cooperation.

As a reminder, the Udokan Mining and Metallurgical Company's processing plant was launched in 2023, producing over 700,000 tons of copper concentrate. The project is being implemented within the Trans-Baikal Priority Development Area (PDA).

According to Udokan Copper