Experts from German company MBEG have competed a technical audit of plans for an underground mine at the Olenogorsk Mining Plant in the Murmansk Region. The German company studied the geology of the area and the position of deposits and decided how the plant needs to change its infrastructure in moving from opencast to underground mining.
The decision to open an underground mine at the plant, which extend its lifespan by 30-40 years, was taken in April by Severstal Resource's board of directors. Opencast mining at the plant is becoming unprofitable.
The directors of Severstal Resource, which owns the plant, are expected to make a decision on the project on August 1. Viktor Vasin, the plant's general director, said that construction of the underground mine could begin by the end of the year.