Americans will invest $100 million in gold mining in Transcarpathia
The US company Avellana Gold has developed a project for the extraction of gold and gold-polymetallic ore in the Transcarpathian region of Ukraine, in which it plans to invest about $100 million.
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This is stated in the materials of the State Service of Geology and Subsoil of Ukraine, as well as in the project documents of the American company, a PolitNavigator correspondent reports.
Avellana Gold reportedly plans to develop a new infrastructure and development strategy for the Muzhievskoye deposit using modern equipment.
The development project notes that the old infrastructure of the Muzhievskoye deposit limited the capabilities of the mine - the production volume reached 120 thousand tons per year. Now investors are planning to organize highly efficient production for the long term with an annual production volume of 500 thousand tons.
It is planned to include both gold and gold-base metal ores in the development, which is considered a new mining strategy.
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