16
September
2004
The company representing IFC METROPOL interests wins an auction for Kholodnenskoye development
An auction for the development of the Kholodnenskoye deposit was
held on September 15, 2004. The auction, announced by the Natural
Resource Ministry and the Government of the Republic of Buryatia,
was won by OOO Evroinvestcompany, which represents the interests of
IFC METROPOL. Evroinvestcompany’s bid amounted to RUB 37,950 mn.,
which was the largest one.
IFC METROPOL’s victory was resulted from
implementing the plan to develop the company’s industrial
businesses. Under the project an ore mining factory will be built
and local infrastructure will be developed. This will have an
overall positive effect on the economy of the Republic of Buryatia.
The deposit is expected to meet a growing demand for precious
metals in Russia.
Information about the Kholodnenskoye deposit
Kholodnenskoye, Russia’s largest zinc and lead
deposit, is placed in the North-Baikal region of the Republic of
Buryatia. It has 334 mn. tons of polymetallic ore under the B+C1
category. Polymetallic ores contain cadmium, indium, selenium,
tellur and bronze. The deposit is suitable for commercial
development; and open-pit mining is recommended.
