Posted on 16 Nov 2022
Russia’s Udokan Copper announced that it will be able partially to satisfy China’s growing demand for copper, says the company’s chairman of the board of directors Yerkozha Akylbek at the Shanghai Metals Market (SMM) conference,
“We will be able to satisfy up to 5% of China’s growing demand for copper,” the company tells Kallanish. “The global demand for copper is increasing and will likely outpace supply. Electric vehicles (EVs) and their charging stations, solar panels, and wind turbines all require considerable amounts of copper. As they progress, developing countries will also require more copper in their construction, power, and machinery sectors.”
This energy transition may see volumes of copper triple by 2035 and China has committed to reach net-zero CO2 emissions by 2060. The country already accounts for over half of the world’s copper consumption. This is set to increase as it focuses on sustainability; EVs are to make up 40% of its car manufacturing by 2030.
Udokan’s mining project is expected to be launched next year. It is located near the Chinese border, enabling shipment to northern China via direct railroad link and to southern China via Russian seaports on the Pacific Ocean. This makes China a key export market for copper, the enterprise observes.
Production at Udokan is based on hydrometallurgy; the most ecologically efficient way to produce non-ferrous metals. Renewable energy will power production in the second phase, enabled by an agreement with Russian renewable energy producer RusHydro. This will reduce Udokan Copper’s indirect greenhouse gas emissions.
According to the company, the final installation is currently underway and testing of equipment will start soon.
The annual capacity of the ore mining-processing plant and an accompanying hydrometallurgical plant will be 135,000 tonnes/year in copper equivalent, sulphide concentrate and cathode copper in a 50:50 ratio. In the second phase, capacity will increase to 400,000 t/y.
The plants will be launched in 2023 within a few months of one another.
Source:Kallanish
