non-ferrous metals | 14 January 2008 г. | 14:45

11 Companies Applied for Auction to Develop Deposit in Irkutsk Region

On March 13 Irkutsknedra will hold an auction for the right to develop Iysko-Tagulsk deposit containing nickel, copper, and metals of the platinum group. The amount of the payment for participation in the auction starts from 110 mln rubles. The application deadline is December 26, 2007. All in all Irkutsknedra has received 11 applications from such companies as NorNickel, Russian Copper Company, Alros etc. A source in RBC daily related to the auction said that besides the above-mentioned companies some companies affiliated with Basel and Severstal planned to participate in the auction as well.

By Irkutsknedra estimates, geological survey of Iysko-Tagulsk deposit will require 2.5 mln rubles investment. The total amount of investments including building of mining and dressing plants, works, a railway etc. will reach $10 bln.

Iysko-Tagulsk deposit is located in the Irkutsk region. According to forecasts, the capacity of the deposit includes 7.5 mln tons of nickel, 3.5 mln tons of copper and 750 tons of metals of the platinum group.

Source: RBC Daily
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