Usmanov’s Udokan Project May Hold 9.88 Million Tons of Copper

Baikal Mining Co., a unit of billionaire Alisher Usmanov’s OAO Metalloinvest, said its Udokan project in East Siberia may contain about 9.88 million metric tons of copper.

Udokan’s probable reserves at the open-pit mine were estimated at 795 million tons, with a 1.24 percent average copper content, Baikal Mining said in an e-mailed statement today, citing data based on international Joint Ore Reserves Committee standards.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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