Underground pit launched at Malyshevskoye emerald-beryllium depository
On October 9, 2006, an underground pit was set into operation at Malyshevskoye emerald-beryllium depository.
The depository had been under development until March 1994 but then the work was only resumed in 1997, when Zelen Kamen CJSC was set up to develop the field further. The company got a license allowing it to use these subsoil resources in February 1999. In 2004, a new investor, Tsar Emerald Corporation of Canada, joined the project. It invested 17m RUR into the field in 2004 and 77.9m in 2005. During the nine months of 2006, the investments came to 105.2m RUR including 53.7m RUR spent on the pit reconstruction. The company is hoping to reach the target figure of 200,000 tons of emeralds and alexandrites a year in the summer of 2007.
The depository had been under development until March 1994 but then the work was only resumed in 1997, when Zelen Kamen CJSC was set up to develop the field further. The company got a license allowing it to use these subsoil resources in February 1999. In 2004, a new investor, Tsar Emerald Corporation of Canada, joined the project. It invested 17m RUR into the field in 2004 and 77.9m in 2005. During the nine months of 2006, the investments came to 105.2m RUR including 53.7m RUR spent on the pit reconstruction. The company is hoping to reach the target figure of 200,000 tons of emeralds and alexandrites a year in the summer of 2007.
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