OREANDA-NEWS. August 07, 2008. The State Reserves Committee Rosnedra approved this July the provisional exploration standards and reserves estimations of the Vuruchuaivench mineral deposit belonging to OJSC MMC Norilsk Nickel (hereinafter – MMC Norilsk Nickel or the Company), reported the press-centre of Norilsk Nickel.

The deposit lies in the Murmansk Area not far from the city of Monchegorsk and close to Severonickel integrated works. The sulphide ore of this deposit contains such metals as platinum, copper and nickel.

Platinum group elements in the Vuruchuaivench ore are associated with sulphide mineralization. At 1 g/t cutoff grade for PGE+Au, the reserves С1+С2 measured to the depth of 200 m are as follows: ore 17.5Mt, PGE+Au 70.38t, Ni 40Kt, Cu 51Kt. Ore body thickness is 4m, average metal contents for PGE+Au 4g/t, Ni 0.23%, Co 0.29%.

Ore will be alternatively mined by open and underground methods and sent for primary processing to a modular concentrator with rated ore throughput of 520Ktpa. The existing ore reserves are sufficient for 19 years of the processing plant’s operation at this capacity. Current plans envisage that further concentrate treatment and production of final metals will take place at Severonickel and Pechenganickel operations of MMC Norilsk Nickel, in the Murmansk Area.

Holding a license for the geological study of Monchegorsk ore field, the Company continues exploration at the deposit’s wings and deeper horizons, as well as at the occurrences adjacent to Vuruchuaivench. Subject to successful exploration results, total metal reserves of the Monchegorsk ore field may be increased by several times. Work completion is expected in 2010-2011.

“Vuruchuaivench deposit and the whole Monchegorsk ore field represent a new source of raw materials for Kola MMC operations. This discovery will allow boosting of copper, nickel and precious metals production at the existing plants in the next five years”, - said Evgeni Potapov, Deputy General Director, Head of Mining and Metallurgical business unit of MMC Norilsk Nickel.