Mining capacities development strategy
The Company’s strategy with a focus on Tier 1 assets and a disciplined investment approach was approved in 2013 and has proved its efficiency by bringing about the industry’s highest shareholder returns.
Source: Company data, Bloomberg, Wood Mackenzie
* The estimates are based on the average prices in 2014
New projects (greenfield)
1
Development of Maslovskoye Field
- Q1 2015: Licence issuance
2015–2016: exploration and pre-feasibility study- Post-2020: production launch (over 200 mt of ore reserves)
2
New licences — geological exploration projects
- Six new licences were obtained on the back of a constructive dialogue with the Government about the licensing legislation
- The goal was to discover high-quality reserves with a potential for open-pit development and production
Maslovskoye Field has over
200
mt of ore reserves
The Company obtained a number of other licences for a total of over
500
mt of ore
The Company has been consistently targeting new growth areas: to date, we have obtained a Maslovskoye Field licence and a number of other licences for a total of over 500 mt of ore.