This interview was found by the top researcher Michael not Mr P from the telegram group. Feel free to join https://t.me/eua_palladium
Vladimir Ivanchenko is a very reputable geologist in Russia and a senior geologist at Rosgeo (the head geologist at Rosgeo for North West including Kola). He makes the following statements in his interview to OTR, the mainstream TV channel in Russia on 4 April 2021:
1. PAS [GMF78 : is in fact POAZ, it is a typo in the Russian script of the interview, the voice interview clearly says POAZ] is the largest in Europe deposit of PGMs. Palladium resources are 325 tons of palladium, we have estimated platinum – 37 tons, besides platinum and palladium, there is also nickel, copper, cobalt and gold. Nickel – 570 thousand tons, copper – 320 thousand tons, plus a rather large ore occurrence, which, in general, gives the right to work for about 60 years. If in dollars, then this is about 41 billion dollars
[GMF78 : this is now around $42.3bn on current prices]
2. Moreover, Nittis-Kumuzhya-Travyanaya and Poaz, or rather, Nyud-Morshkovoye, all this gives out about 60 billion dollars.
[GMF78 : he means NKT (Eurasia’s MT flanks license) and Nyud (announced by Eurasia as the first project within Rosgeo JV) in total give $60bn.]
3. In addition to this, even before that, large deposits had already been found – these are Plast 330 and Monchetundrovskoe [GMF78: this is our MT production license].
4. Norilsk, there is also ore, in general, there is not so much rich ore, do you understand? Poor ores, they are poorer than we have in Monchegorsk
5. That is, if we compare with Norilsk, ore is mined there at great depths, then in Monchegorsk it is practically on top and its cost is lower than in Norilsk
So we have an area of the Rosgeo JV that their lead geologist is clearly excited about, with a rough value of $60bn assigned to this. The full JV will contain more areas, but it seems the first area Nyud is round $19bn extra in situ value and Eurasia will soon have 75% ownership of the licence for this deposit.
Angelina Grokholskaya: We continue the program dedicated to the Day of the Geologist. Ishaq, please tell me, how many minerals are discovered on earth now? In general, is there any exact figure?
Iskhak Farkhutdinov: At the moment, about 6,000 minerals are already known to geologists and every year more and more minerals are discovered.
Angelina Grokholskaya: How interesting! These are minerals, but are there any new deposits? Because we often hear that the field is closed and depleted.
Iskhak Farkhutdinov: Of course, the deposits are being depleted and therefore it is very important that new geologists appear and look for new deposits, because in fact there are a lot of deposits that have not yet been discovered.
Angelina Grokholskaya: By the way, I also know about one deposit that was recently discovered: a new deposit of nickel and platinum was discovered in the Murmansk region and this is a unique discovery. And we asked Vladimir Ivanchenko, the Honorary Exploration of Subsoil, the leading geologist of the North-West Production and Geological Association, to tell us more about him.
Angelina Grokholskaya: Vladimir Ivanchenko came to geology at the peak of the romanticization of the profession and never regretted his youthful choice. He traveled all over the country: he washed gold in the Magadan region, saw diamond mining in Yakutia, worked in prospecting for antimony, mercury, gold in the Fan Mountains, looked for nickel, palladium, and now platinum on the Kola Peninsula. He believes that it is impossible without luck in the work of a geologist, but this luck is based on knowledge and experience.
Hello Vladimir Nikolaevich!
Vladimir Ivanchenko: Hello!
Iskhak Farkhutdinov: Hello!
Angelina Grokholskaya: Happy Holidays!
Vladimir Ivanchenko: Thank you!
Angelina Grokholskaya: Since we are talking about discoveries, about deposits, about platinum, you know, I want money right away, because platinum is associated with the fact that it is very expensive. How much is platinum now?
Vladimir Ivanchenko: Now the most expensive metal is palladium, it is also made of platinoids, platinum costs $ 38 per gram, and palladium costs $ 84 per gram, and I think it will only go up further, of course.
Angelina Grokholskaya: Everyone is talking about this that minerals will increase in price anyway, so we can say that you have made the whole city richer, or will you do it if everything goes well?
Vladimir Ivanchenko: In principle, yes, I think that Monchegorsk has a great future, and I am a fan of Monchegorsk, I really like Monchegorsk – it is a beautiful city, probably the best on the Kola Peninsula, bright, so joyful, and I want and all the young people stayed in Monchegorsk, did not leave anywhere, had a high-paying job due to the fact that a new combine would work, as well as mines. There were mines at one time, which were closed in the 71st year, and now we are reviving the ore base of Monchegorsk.
Angelina Grokholskaya: Oh, this is a balm for the soul right now, because I already said that I was born on the Kola Peninsula and Monchegorsk is my hometown, so for me your discovery is, of course, a personal story. I suggest now, if you do not mind, do not mind our viewers, take a little walk around Monchegorsk.
Vladimir Ivanchenko: Let’s take a walk together, yes.
Angelina Grokholskaya: Let’s watch a short video.
Angelina Grokholskaya: At the entrance to Monchegorsk there is a monument to pioneering geologists, conquerors of Monche-tundra. 101 years ago, they came to the Kola North, in May 1920, a special train brought a special commission, which included Alexander Fersman. This is what he wrote in his book “A Journey for the Stone”: “Huge ridges were spreading before us, a whole unfamiliar new mountain world was opening up.” A little later Fersman will say: “Here the city will be founded, and the beautiful Monchegorsk will grow among three lakes and three peaks.
” Thanks to the reserves of nickel ore, it received the status of a “city of metallurgists”, but in the 21st century it may become the “platinum capital of the Arctic”.
What’s with this project now? How is it developing?
Vladimir Ivanchenko: We have been working in Monchegorsk for 6 years already. Our first project was – Nittis, remember, there is such a mountain in Monchegorsk?
Angelina Grokholskaya: Yes.
Vladimir Ivanchenko: Nittis and Nyud-Morshkovoye, “Cloudberry Lake”, is also such a pleasant lake – this was our first project, we worked it out, in general, we got a positive result, there is also a large occurrence of platinum-metal ores, then in the 17th year we completed the first project, in the 18th year they started the second project – Poaz, this is where the TV tower in Monchegorsk is. The largest in Europe manifestation of platinoids, which is also associated with the marginal zone, was discovered at Poaz. Palladium resources are 325 tons of palladium, we have estimated platinum – 37 tons, besides platinum and palladium, there is also nickel, copper, cobalt and gold. Nickel – 570 thousand tons, copper – 320 thousand tons, plus a rather large ore occurrence, which, in general, gives the right to work for about 60 years. If in dollars, then this is about 41 billion dollars from this ore, which is in the bowels, a fairly large object. Moreover, Nittis-Kumuzhya-Travyanaya and PAS, or rather, Nyud-Morshkovoye, all this gives out about 60 billion dollars, that is, there is no end to work in Monchegorsk. In addition to this, even before that, large deposits had already been found – these are Plast 330, Monchetundrovskoe, that is, Monchegorsk is slowly gaining, overgrowing with deposits that in the near future, I think, will earn very quickly, because platinum and palladium are in demand , nickel is also in demand. The fact is that Pechenga is already suffocating, because there is not enough ore, the same is with Norilsk, there is also ore, in general, there is not so much rich ore, do you understand? Poor ores, they are poorer than we have in Monchegorsk, that is, if we compare with Norilsk, ore is mined there at great depths, then in Monchegorsk it is practically on top and its cost is lower than in Norilsk, and I think,
Angelina Grokholskaya: Oh, how I would like! Of course, because there were projects, Iskhak, I will say that the city will have to be closed, either work there on a rotational basis …
Vladimir Ivanchenko: It was like that, yes.
Angelina Grokholskaya: Because there were no deposits and all the mines were closed. This is really very good news and straight, you know, I want to give a standing ovation to the geologists for your work, thank you very much!
Iskhak Farkhutdinov: Yes, now it is important that young people go to geology and come to Monchegorsk.
Angelina Grokholskaya: Yes, and of course there are more investors. Vladimir Nikolaevich, you have been in the industry for almost 50 years – this is a huge period, please tell me, but there were some moments, a day, an event, maybe when you wanted to leave?
Vladimir Ivanchenko: You know, there was one moment, I will say frankly, this was my first practice in Yakutia, it was the Markha and Morkoka rivers, we had such an area, we had a 200,000th rent, and the first route was very difficult: the heat was terrible, 35 degrees somewhere, and somewhere late mosquito repellents, and here we go, and there is an overgrown plain and dwarf birches with bushes somewhere around the waist and it was necessary to stomp 30 kilometers, but I have not yet entered the rhythm, very it’s hard, sweat, not to undress, because mosquitoes are horrible – 3 centimeters on the body, everywhere they cover 3 centimeters of mosquitoes, it’s still hot, it’s generally impossible. At the end I think: “Where have I got to? Probably, I need to leave, leave this profession. ” But then heroically we reached, the next day they did not find us with the deer, we had a rest for a day and then the work went like this, and now I remember Yakutia better, than seen at all.
It was very difficult to pass the first route.
Angelina Grokholskaya: Mosquitoes scared me. We walked a lot in the fields, were there any other interesting cases, so curious?
Vladimir Ivanchenko: Once we, when I was still working in Central Asia, I worked for 7 years in Central Asia, and now we worked in the Fan Mountains, carried samples, samples from the stone-ore manifestation were taken, and there the fact is that the bridges were built: 2 sticks were laid , twigs, covered with earth, you go, it all trembles, and we crossed the stream, but the fact is that there are streams – in the morning there is barely water running, and in the evening it all spills when the glaciers begin to melt in the mountains, it turns out such a stormy mudflow a stream that drags stones and all that jazz. And we walk, and the horse that was carrying the furrow samples was loaded with 100 kilograms, probably, we were already finishing work, and the horse falls through and falls into this stormy stream. I had to jump and pull her out of there, because a horse, if it picks up water in its ears, it can drown right away, you know? And so that she does not drown
Angelina Grokholskaya: Yeah, I don’t know how funny he is, you probably remember it with a laugh. Vladimir Nikolaevich, do you have some kind of tradition – how do you celebrate the Day of the Geologist?
Vladimir Ivanchenko: Traditionally, we meet here in a team, we celebrate, as it should be for geologists, we wish those who are in the field, the first toast, the second toast to women, of course, this is how we celebrate, in general, all the friendly good guys in the team, especially now young people came up, which makes us happy, they also want to become good geologists.
Angelina Grokholskaya: Maybe now then, you know, not even congratulations to colleagues, but parting words to your young colleagues, those who are just entering the profession, is that what you always say to them?
Vladimir Ivanchenko: What to say? First, to wish them goals in life, in order to find a deposit, one must believe in this, you know, because without this faith, without knowledge, nothing can be found. I wish them persistence, good luck and congratulate all fellow geologists on the upcoming Day of the Geologist, this year is 55 years of the Day of the Geologist, so I congratulate everyone, I wish everyone great health, good luck, success and good field seasons!
Angelina Grokholskaya: Vladimir Nikolaevich, thank you very much, happy holiday, goodbye!
Vladimir Ivanchenko: Thank you, goodbye!