Chernogorskaya Mining Company

The Chernogorskaya Mining Company, which holds an exploration, mining and production license for the Chernogorskoye deposit, was acquired by Russian Platinum in April 2011. The deposit is located about 15 km to the southeast of the city of Norilsk, in the northern part of the Krasnoyarsk region of Russia.

The first ore discoveries in this field were discovered in 1943-1944 during the detailed survey and prospecting. Amount ore reserves is about 143 Mt at an average grade of 0.22% nickel, 0.29% copper, platinum group metals and gold about 3.9 g/t. PGMs are located at a depth of 20 meters in the western part and 245 meters in the eastern part.

In close proximity to the mine, Russian Platinum plans to build a processing plant and smelter where the concentrate will be processed to produce a copper-nickel matte. Also the company plans to build a plant for hydrometallurgical processing of copper-nickel matte. The first metal on the deposit will be produced to 2015 year.