The conference was organised ahead of the scheduled visit of Russian President Vladimir Putin to the Republic of South Africa in 2006. The aim of the conference was to develop and harness international business cooperation in the areas of trade and investment between Russia and the Republic of South Africa, in view of opportunities given by integration within the South Africa Economic community and the Eurasian Economic Community.

Representatives from the Russian Government, the Presidential executive office, the Russian business community, as well as delegations from Brazil, India, the G8, and international financial institutions, were among the participants of this prestigious forum.

General Director Mikhail Slipenchuk told foreign and Russian partners about IFC Metropol’s experience in the raw materials sector, providing East-Siberian Metals Corporation as an example. He emphasised that companies affiliated with IFC Metropol won the tenders for the exploitation of zinc, lead, gold and beryllium mines in Buryatia Republic. At present, subsidiaries of IFC Metropol are preparing for the extraction of these raw materials.

Mikhail Slipenchuk also said that the Russian Natural Resources Ministry had awarded licenses to explore the Taloveys deposit in Karelia, where the prognostic gold reserves are estimated at 13.85 tones. The company is ready to develop the mine.