A silver mining and processing facility has been opened in Yakutia’s Kobyaisky County. Russian President Vladimir Putin symbolically launched the production during a video link-up.
The new facility will produce silver at the Vertikalnoye mine. The project is being implemented by Silver Bear Resources Plc through its affiliate Prognoz, which is registered in Russia. Investments in the project are RUR 7 bln ($106 mio).
The new production will create 300 jobs in the region and provide at least RUR 1.5 bln in tax payments over the next eight years.