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Five Companies Filed Bids for Udokan
Russian Federal Agency for Subsoil Use (Rosnedra) has drawn up results of the bidding campaign for one of the world biggest copper deposit, Udokan, the Chita region of Russia, Interfax reported.
The bidders are GMK Norilsk Nickel, Soyuzmetallresurs of Oleg Deripaska, Mikhailovsky GOK Mining & Processing Works (part of Alisher Usmanov’s Metalloinvest Holding), ONEXIM Group of Mikhail Prokhorov and Russian Copper Consortium of RZD, UGMK and Russian Development Bank.
State-run Rostekhnologii counts on getting at least 25-percent interest in the consortium that it will set up jointly with Norilsk Nickel or Metalloinvest should any of them be the successful bidder.
The tender is slated for September 17 and July 11 was the deadline for filing bids. The starting payment equals 4.5 billion ruble and the winner will have a license for 20 years.
Under Rosnedra’s estimate as of January 1, 2008, the balance reserves of Udokan equaled 14.43 million tons of copper (B+C1 categories) and 5.52 million tons (C2 category); the copper content in the ore averaged 1.56 percent. The deposit was discovered far back in 1949.
According to the Natural Resource Ministry, Udokan will annually yield up to 187,000 tons of copper, which accounts for 15 percent of Russia’s copper output.
www.kommersant.com
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