The Project is the construction of a mine and processing plant for exploitation of copper, molybdenum and gold from the Peschanka copper-porphyry deposit (Chukotka AO) commencing in 2021. Copper and molybdenum concentrates would be shipped out from the Pevek port.
The Project Proponent is GDK Baimskaya LLC (the Company), which owns the license to survey, explore and develop the deposit.
The Company plans to attract financing from International Finance Institutions (IFIs) for the Project. As such the Company is developing a Bankable Feasibility Study (BFS), including an Environmental and Social Impact Assessment (ESIA) in compliance with the IFI’s requirements, particularly, the Equator Principles and the International Finance Corporation (IFС). In addition, Project Design documentation is being developed in accordance with the Russian legal requirements and a Russian EIA (OVOS) for the Project will be conducted too.
Fluor Canada Ltd. (Fluor) was awarded the Engineering, Procurement, Construction and Management (EPCM) services for the Project. GDK Baimskaya LLC is directly managing the design of the mine, and all other facilities are designed by third parties.
Ecoline Environmental Assessment Centre (Ecoline EA Centre), an environmental and social consultancy, has been appointed to complete the required environmental and social assessments for the Project – the ESIA and the OVOS. The ESIA is being prepared by the Ecoline EA Centre jointly with SE Solutions (South Africa); the OVOS will be developed in cooperation with Russian consultants.