Uralgiproruda Institute, Ekaterinburg, Russia:

V. S. Primak, Head of Mining and Transport Department, mail@ugruda.ru
E. L. Spiridonova, Head of Economic Sector

In 2007–2008 South Yakutia Development Corporation put forward the concept of Integrated South Yakutia Development Investment Project. The investment project includes construction of two mining and processing integrated works at the most promising iron ore deposits — Gorkitsky and Tarynnakh. Tarynnakh and Gorkitsky deposits of iron ore were discovered in the 1970s by Charo-Tokkin geological exploration expedition. Later on, the deposits were subjected to alternate examination. Appraisal of the reserves took place at Gorkitsky deposit in 1982 and at Tarynnakh deposit in 1984. The Tarynnakh-Gorkitsky iron ore block belongs in group 2 of geological complexity. In 2014 the Institute took part in Feasibility Study of Permanent Exploration Standards and Mineral Reserves Appraisal in Tarynnakh-Gorkitsky Iron Ore Block in South Yakutia. Geotechnical, technological, ecological and economical evaluation covered principal parameters of open pit and underground mining at Tarynnakh-Gorkitsky iron ore block with 4 scenarios of magnetic iron cutoff grade: 3, 10, 16 and 22%. The mining boundaries (open pit/underground mining transition) were delineated based on economic efficiency and from comparison of the limit and reference stripping ratios. Mining investment efficiency was evaluated at metallurgical treatment stage and cast iron production. The technical and economic estimates give evidence of sufficient economic efficiency of Tarynnakh-Gorkitsky iron ore mining project. The net present value is positive and ensures sustainable revenue. In the efficiency evaluation of different scenarios, the best performance is expected in the variant of iron ore cutoff grade of 10%. Based on the accomplished studies, the State Committee on Mineral Reserves Appraisal Approval authorized the resultant standards and the estimated reserves of iron ore and building stone as of January 1, 2015. 

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