The Tyrnyauz mine is the biggest tungsten deposit in Russian Federation which contains around 50% of all tungsten reserves in Russia. For many years it was owned by JSC “TGOK” (Tyrnyauz Mining and Processing Plant), but in 2002 JSC “TGOK” went bankrupt and the development of the deposit was frozen up for several years. In 2007 WOLFRAM Company JSC tried to revive the development of the Tyrnyauz mine by buying the shares of the bankrupted company, but the project did not go further. In 2012 WOLFRAM Company JSC and the Government of the Kabardino-Balkar Republic (Russia) established “KB WMC”, OJSC (Kabardino-Balkarian Tungsten-MolybdenumCompany). The company was founded to develop the Tyrnyauz deposit on the basis of the existing assets of JSC “TGOK” and restart the production of tungsten concentrates. The Tyrnyauz project was presented to D. A. Medvedev, the Prime Minister of Russian Federation, at Sochi Economic Forum 2012. The founders of “KB WMC” represented by the President of the Kabardino-Balkar Republic and General Director of WOLFRAM Company JSC gave the detailed information on the project to the Prime Minister. One of the reasons for high attention and support of the project from the Government on regional and federal levels is that developing of the project will create thousands of working places which is very important for the region as it is known for high unemployment rates.
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