The Federal Agency for Mineral Resources will hold an auction in February 2013.Participation of foreign investors is not restricted.
MOSCOW(BullionStreet): Russian Federal Agency for Mineral Resources announced the detailsof gold and silver deposits at the Kyuchus reserves in Yakutia in country's far east.
According to the agency, the Kyuchus field contains 177.509 tonnes of gold and 26.9 tonnes of silver, including 70.919 tonnes of C1 gold reserves, 38.416 tonnes of C2 gold reserves, and 16.6 tonnes of C2 silver reserves for open-pit mining.
The agency also announced the dates for auctions for a license to develop the deposit as bids for the auction are being accepted until January 25, 2013, with the starting price set at 880.126 million rubles.
The Federal Agency for Mineral Resources will hold an auction in February 2013.Participation of foreign investors is not restricted.
The auction itself will be held in Moscow on 19 February 2013. Since auctioning of Kyuchus was announced in October 2012, none of the major mining companies publicly showed interest to the project.
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