In Primorye, due to losses, a tungsten mining enterprise is being liquidated

In Primorye, due to losses, a tungsten mining enterprise is being liquidated

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The management of LLC “Lermontov Mining and Processing Plant” (GOK), a subsidiary of KSUP “Primteploenergo”, decided to liquidate the enterprise due to losses and accumulated debt. This was announced today by the press service of the regional state enterprise “Primteploenergo”, which is the owner of the Lermontov Mining and Processing Plant.

“The decision was made due to the lack of markets for tungsten concentrate at GOK, the unprofitable activity of the plant, as well as the accumulated debt in the amount of 400 million rubles, including 150 million rubles. to KSUP Primteploenergo,” the press release says.

Primteploenergo explained that in order to continue its production activities, Lermontovsky GOK needs investments in the amount of 250 million rubles. for the purchase of reagents required for the production of concentrate, the expansion of the production base and the conduct of geological exploration. Meanwhile, for Primteploenergo, the amount of 250 million rubles. – “half of the annual repair program in the field of heat supply and water supply in the territory of 32 municipalities of Primorye, where the company provides services.”

Primteploenergo promised that the liquidation of the GOK will be carried out in compliance with all necessary social payments to employees.

It is also clarified that the decision on the need for further mining of tungsten ores at the deposits of Lermontovsky Mining and Processing Plant is made by the Ministry of Industry and Trade of Primorsky Krai, taking into account the current situation in the sales market.

According to IA “Primamedia”, the revenue of Lermontovsky GOK for 2021 amounted to 121.396 million rubles, a net loss of 158 million rubles. Primteploenergo made an attempt to sell the mine at an auction with a minimum lot price of 220.792 million rubles. But the auction was declared invalid due to the lack of bids.

The GOK developed the Lermontovskoye deposit with a tungsten content in the ore of about 6%, processed the ore at the processing plant with the release of a 40% concentrate. GOK is the only large enterprise in the village of Svetlogorye with a population of 1.4 thousand people.

Alexey Chernyshev, Vladivostok

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