Home / Press Releases / UMMC Group jointly with SOGAZ JSC launched comprehensive insurance of the Korbalikhinskoye project

UMMC Group jointly with SOGAZ JSC launched comprehensive insurance of the Korbalikhinskoye project

Press Releases
UMMC Group jointly with SOGAZ JSC launched comprehensive insurance of the Korbalikhinskoye project

UMMC Group signed a syndicated loan agreement with VEB.RF and Sberbank PJSC to finance the Project “Construction of the Korbalikhinskoe polymetallic mine and reconstruction of the Rubtsovskaya concentrating plant in order to increase productivity up to 1.5 million tons of ore per year” (hereinafter referred to as the Korbalikhinskoe ).

Within the framework of this project, UMMC Group signed a Construction and Installation Risks Insurance Contract with SOGAZ JSC, within the framework of which a comprehensive insurance program was organized for the following objects:

  1. Construction of Korbalikhinsky polymetallic mine:
    1. Customer - SIBIR-POLYMETALY JSC (part of the UMMC Group);
    2. Territory - Altai Territory, Zmeinogorsk District, Bespalovsky settlement, Industrial site of the Karbalikhinsky mine.
    3. Completion date - 06/30/2025
  2. Reconstruction of Rubtsovskaya concentrating plant:
    1. Customer - SIBERIA-POLYMETALY JSC (part of the Group UMMC);
    2. Territory - Altai Territory, Rubtsovsky District, p. Oteryaevka, Rubtsovsky mine industrial site.
    3. Completion date - 03/31/2023

SOGAZ JSC is already successfully implementing various programs of property equipment insurance for various enterprises of the UMMC Group (including JSC MC Kuzbassrazrezugol, which is the second largest coal company in Russia).

Also, earlier in 2020, the SOGAZ Insurance Group acquired the assets of LLC SMK UMMC-Medicine », Specializing in compulsory and voluntary medical insurance for employees of UMMC Group companies. This made it possible to transfer the level of cooperation between the SOGAZ Group and the UMMC Group to a higher and more comfortable level for the Group's enterprises.

“For our Group, cooperation with SOGAZ JSC is a logical and strategically correct step - once again we were convinced in the professionalism of the team, which in the current conditions was able to provide a competent comprehensive program for closing risks for the Korbalikhinskoye project, which meets the high requirements of project financing and provides for the obligatory attraction of reinsurance in the international market "- commented Andrei Anatolyevich Kozitsyn, General Director of UMMC.

“SOGAZ has really long and fruitful cooperation with the UMMC Group on various projects, and now also on medical ones. We highly appreciate our cooperation and thank our partners for their trust. By providing such a significant and large-scale project with reliable insurance coverage, SOGAZ contributes to its implementation, "said Dmitry Malyshev, Deputy Chairman of the Management Board of SOGAZ JSC.

Ural Mining and Metallurgical Company is a Russian mining and metallurgical holding, the largest producer of copper, zinc, coal and precious metals in the country, uniting more than 40 industrial enterprises in Russia and abroad.

SOGAZ Insurance Group was founded in 1993 and is the largest federal insurer in Russia. The group provides over 100 insurance programs for individuals and companies in various fields of activity. The reliability and financial stability of the Group's companies have been confirmed by leading international and Russian rating agencies. The regional network of the Group includes more than 1000 divisions and sales offices throughout Russia.

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