Russia’s Tomsk Investment Co. LLC (TIC), a subsidiary of Rusneftegaz, plans to invest RUB9 billion (approximately $117 million at current exchange rates) into the development of the Golevskoye synnyrite deposit in the country’s Far Eastern Transbaikal territory, according to an Interfax report this week, citing a statement by Russia’s Far East Development Ministry.
The synnyrite will be used as a raw material for the production of chloride-free potash fertilizer, as well as potentially to produce aluminum, according to the report.
The project is targeted to begin operation in the first quarter of 2024 with an initial production of 300,000 mt/y of fertilizer, according to the ministry statement. Production will be ramped up as markets expand.