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VSMPO-AVISMA has decided not to participate in the extraction of molybdenum

VSMPO-AVISMA withdrew from the founders of the mining company «Ural gold», says «Kommersant-Prikamye». As previously reported, VSMPO-Avisma and UMMC planned to implement a joint project to develop the Yuzhno-Shameyskogo copper-molybdenum mine in the Sverdlovsk region. The license for the deposit belongs to the «Ural gold.»

UMMC General Director Andrey Kozitsin previously reported that VSMPO-AVISMA in the joint control of 51%, 49% of UMMC. The company planned to put into operation the quarry and processing plant capacity of about 500 tons of molybdenum in concentrate per year in 2009. It was expected that the plant will process annually about 1.2 million tons of ore. The end consumer of molybdenum in concentrate was to be VSMPO-Avisma.

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