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Copper is an indispensable metal that fueled revolutionary progress throughout human history. The copper age, the period of early metalworking in Eurasia, gave birth to the field of metallurgy. Due to its high electrical and thermal conductivity, corrosion resistance, and strength, copper is in high demand, especially in high-tech industries. Today, scientists call today’s stage of technological and industrial development the New Copper Age.
Russian President Vladimir Putin said at the plenary session of the Valdai Discussion Club that “Chinese companies are among the most active [investors] operating in the Far East. Chinese investors may get involved there as well. It is located in Siberia,” Putin said, without naming the project.
A little geological sleuthing very quickly came up with a likely candidate. Udokan Copper was established in 2008 to develop the Udokan Copper Deposit in Kalar District of the Trans-Baikal Region (Russia). The Udokan deposit is the largest copper deposit in Russia in terms of reserves.
In September, during the Eastern Economic Forum 2026, Putin inaugurated the hydrometallurgical plant at the Udokan Mining and Metallurgical Complex, whose project operator is Udokan Copper, a company that is part of the USM holding company.
The complex can now produce cathode copper with a metal purity of 99.99%. In the past, Udokan produced only concentrate.
The first phase of the Udokan complex, which includes the processing plant and the hydrometallurgical plant, will have an average production capacity of 150,000 tonnes of copper per year. Once the second phase is built, that figure will climb to 550,000 tonnes annually, which would place Udokan among the world’s five largest copper producers.
It appears probable that Chinese investors could take part in a project of this kind to develop one of Russia’s largest copper deposits, since it aligns closely with how they apply forward-thinking criteria to major investments.
