18.9 C
Belgrade
28/05/2024
Mining News

Rustitan Group plans major expansion of Pizhemskoye titanium field in Russia

The Rustitan group, a leading titanium producer in Russia, is set to commence the first phase of development at the Pizhemskoye titanium field, the country’s largest reserve of titanium. Scheduled for launch in 2026, this ambitious project entails investments totaling RUB 52 billion (approximately US$500 million).

Situated in the Komi Republic, west of the Ural Mountains, the project aims to establish a vertically integrated mining and metallurgical complex for processing titanium ores and quartz sands. This comprehensive infrastructure will support the production of various essential materials for modern technology, including cellphones, electric vehicles, robotics, and green technologies.

Supported by

The initial phase will focus on the production of artificial rutile, synthetic wollastonite, iron oxide, zircon concentrate, and quartz sand. These operations are projected to create over 5,000 new jobs and generate significant revenue.

Subsequent phases, slated for 2026-2030, will see further expansion of production capacity, including synthetic wollastonite, glass sand, and pigment titanium oxide. The project’s financial viability is underscored by a projected payback period of six to eight years and substantial revenue estimates.

Funding for the project, which has been in development since 2006, will be sourced from prominent Russian banks such as VEB.RF, Sberbank, and Gazprombank.

The Pizhemskoye deposit, recognized as the world’s largest in terms of titanium and quartz reserves, holds immense potential for bolstering Russia’s position in the global titanium market. With abundant resources and strategic proximity to key titanium fields, the project is poised to enhance both domestic and international supply chains.

By tapping into the vast titanium resources of the Pizhemskoye field, Russia aims to reduce its dependency on imported raw materials and meet the growing demand for titanium within the country and abroad. This initiative aligns with the broader goal of strengthening Russia’s position as a key player in the global titanium industry.

Related posts

Critical minerals in Africa: Recommendations for sustainable development and economic growth

David Lazarevic

Bridging environmental concerns: Serbia’s lithium extraction dilemma

David Lazarevic

Lithium mining divides Portugal’s rural communities

David Lazarevic
error: Content is protected !!