OREANDA-NEWS. In September this year, the auction on sale of the license for geological survey, exploration and molybdenum ore mining at Yuzhno-Shameisk Ore Deposit was won by the Ore Mining Company “Ural Gold” LLC (ООО "Gornorudnaya Company Uralskoe Zoloto"). License No. СВЕ 02416 ТР was registered on October 19, 2007. Category С2 molybdenum ore reserves are estimated at 53.2 mln ton, the calculated molybdenum content is 42.6 K tons.

The Ore Mining Company “Ural Gold” LLC, Verkhnaya Pyshma, Sverdlovsk Region is engaged in geological exploration of mineral deposits, survey, mining and processing of ferrous and non-ferrous metal ores. One of the major participants of the company is the JSC "Ural Mining Metallurgical Company” (OAO “Uralskaya Gorno-Metallurgical Company").

VSMPO-AVISMA Corporation acquired 33% participatory interest in the registered capital of the Ore Mining Company “Ural Gold” LLC. Thus, VSMPO-AVISMA will participate in the project on development of molybdenum ore deposit.

Participation of VSMPO-AVISMA in the registered capital of the ore mining company is related to systematic implementation of actions aimed at generation of the reliable raw materials supply system, which will enable the Corporation to achieve its strategic target and produce 44 000 tons of titanium products by 2012. The demand for molybdenum raw materials is related to increase in production of titanium alloy die-forgings for the leading aircraft building companies.

Specific actions, project implementation dates and amount of financing will be developed and submitted for review to the Board of Directors of VSMPO-AVISMA Corporation.