The key session “The Role of Electricity in the Development of the Far East”, was held on 4 September as part of the Eastern Economic Forum.
The company is currently working on the construction design for the second phase of the plant. Once completed, Udokan’s production capacity will exceed 500 thousand tonnes of copper per year, enabling the company to become one of the world’s leading copper producers. Total investment in the development of the Udokan deposit will exceed RUB 800 billion.Russia’s Minister of Energy, Sergey Tsivilev, and Minister for the Development of the Russian Far East and the Arctic, Aleksey Chekunkov, also took part in the session.
In his remarks, Minister Chekunkov stated that, the Russian Far East has demonstrated rapid economic growth over the past decade, outpacing the national average.
Minister Tsivilev noted that the global shift towards a new technological paradigm – the development of robotics, artificial intelligence and cryptocurrencies – is driving increased demand for electricity. At the same time, he stated that energy development is now the key driver of Russia’s economic growth.
