N e w s

The administration of Tchelyabinsk region together with the Natural Resources Committee of Tchelyabinsk region announced a repeated competiotion among Russian companies on the right to mine the Mikhaylovskoe deposit of gravel gold. Explored reserves of the deposit are 7.288 million cubic meters of sand containing 1146 kg of gold. The results of the previous competition were nullified as both of the participants - closed joint-stock companies "Gidravlika" and "Yuzhuralzoloto" - did meet the conditions under which they had to provide for an additional water scoop source. The participant applications for the second competition must be submitted before April 15. The results will be made public on June 15.

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