OREANDA-NEWS. According to the business plan, in 2007, expenses on investment activity of Olenegorsk GOK will make over 1,9 billion roubles.

According to the press service of OJSC “Olenegorsk GOK”, Kirill Markin, Director on Project Management of OJSC “OLKON”, mentioned that mainly these are industrial investments to be targeted at modernization, technical re-equipment of production, reconstruction and construction of objects with the purpose of production capacities’ maintenance.

Over 30% of investments are related to update of the equipment at the grinding-concentrating plant. The most expensive is the project named “Reduction of screen characteristic of grinded product to 15mm”, which is being implemented since 2005. Its fulfilment will take 206 million roubles in 2007.

Within the frameworks of this project, hi-tech crushers of fine and medium-size crushing Hydrocone, vibrating feeders, an inertial roar and etc will be got. Also, carrying out of reconstruction of fine and medium-size crushing cases, completion of construction of the second turn of dry magnetic separation is planned within 2007.

In 2007 works on replacement of a park of magnetic separators, mills, modernization of system of hydro cyclones will be continued. The projects of replacement of funds of a crushing site, enrichment are also significant on the size of investments. All these investments are called to reduce expenses for repair, raise stability of work of the equipment and, as a whole, to increase productivity of all sites of the grinding-concentrating plant. Replacement of fixed capital is necessary in other shops of the enterprise as well.

More than 314 million roubles in total - approximately 16 % of investments - will be directed on realization of strategic civil-engineering projects of two underground mines - Olenegorsk and the October XV-Anniversary Mine.

The additional equipment is required for successful performance of the plan of 2007 on increase in volumes of extraction of ore on Olenegorsk underground mine up to 1,5 million tons (for comparison - in 2006 extraction made 580 thousand tons of ore). The underground dumper Sandvik TORO 40D and loading-delivery machine Sandvik TORO 1400E will be got for increase in volumes of extraction. Receipt of this equipment is expected at Olenegorsk underground mine in the end of April. Underground auto-dumper Sandvik EJC 530 will be got for maintenance of withdrawal of mining weight from tunnel works. Its delivery is expected in July.

The purchase of tunnel equipment is planned within the frameworks of construction of underground mine on the basis of the October XV-Anniversary Mine, namely: drilling unit Sandvik Axera 6-240, loading-delivery machines Sandvik TORO 7М and underground auto-dumper Sandvik EJC 530. Receipt of drilling unit and loading-delivery machine at the enterprise is expected in the middle of April and underground auto-dumper in August.

Besides, other projects directed on introduction of information technologies, automated control systems and communications, reduction of costs, increase of safety of manufacture, decrease in its negative influence on environment, improvement sanitary-conditions of life work, realization of projects of modernization of objects of welfare complex of Olenegorsk GOK will be realized also.