The Chinese company Jilin HOROC, which is a real pearl of nonferrous metallurgy in its homeland, plans to buy a blocking stake in the Russian CJSC Geotechnology, which owns deposits in Kamchatka with significant reserves of copper, nickel and cobalt. The government commission of the Russian Federation on foreign investments has already given its "go-ahead" for the implementation of this transaction. Under the terms of the agreement, the Chinese company will buy a block of shares of less than 25%, however, with the right to block.
The fields that the Chinese are counting on have not yet been developed due to lack of investment. Many Russian companies prefer to buy non-ferrous metals in the form of scrap for further processing.
Established in 1997 in the city of Petropavlovsk-Kamchatsky, ZAO NPK Geotechnology has since 2006 started developing the Shanuch sulphide-copper-nickel deposit in Kamchatka, where mining reserves currently amount to about 1.3 million tons. Among them there are 71 thousand tons of nickel, more than 11 thousand tons of copper, almost 2 thousand tons of cobalt, 621 kilograms of palladium, 254 kg of platinum and 301 kilograms of gold. A mining and processing plant operates in the area of this deposit, which allows to produce up to 100 thousand tons of nickel concentrate per year.
In addition, the Shanuch deposit has the Quinum-Kuvalorogsky nickel zone with total reserves of nickel ore of about 19.6 million tons.
The Chinese company Jilin HOROC is based in Jilin province and is one of the largest holdings in the world. It includes fourteen companies operating in the field of mining and production of non-ferrous and precious metals, as well as products based on them. The company employs more than 10 thousand employees and has been listed on the Shanghai Stock Exchange for over 10 years.
