UMMC owns a 97.78% stake in Chelyabins Zinc, which is a key zinc and zinc-based alloy manufacturer in Russia.
The companies will establish a technical committee to collaborate on advancing the exploration and development of the projects.
The miner paid around C$24m for the deal, settled through C$8.7m in cash and issuance of 69.1 million of its common shares.
The environmental licence allows Hochschild to begin processing plant construction and mine pre-stripping works.
Pacific Ridge will pay C$50,000 in cash and issue 750,000 of its common shares to Orogen.
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First Cobalt has signed an offtake agreement with UK-based Stratton Metal Resources for the future sale of 100% cobalt sulphate production from the refinery in Ontario, Canada.