MOSCOW, Jul 22 (PRIME) — Russian metals giant Norilsk Nickel has started the construction of the deepest skip and latticed mine shaft in Russia worth almost 300 million euros at the companys Polar division Skalisty mine, Norilsk Nickel said in a statement Friday.
Germanys Thyssen Schachtbau has won a tender for construction of the mine shafts complex, which spans to the depth of over 2 kilometers.
The construction is scheduled to be completed in 2019.
Norilsk Nickels total investment in the development of Russian assets is expected to amount to U.S. $34 billion by 2025, with most of the investment to be used in the next seven to eight years. By 2023, Norilsk Nickel plans to increase the Polar divisions ore output to 29 million tonnes per year from the current 16.5 million tonnes.
Norilsk Nickel is one of the worlds largest metals producers.