N e w s

By 2003 Lanta-bank intends to raise gold output to 2500 kg a year with the primary cost of $150 a troy ounce in the framework of Aldan project, as PRIME-TASS was reported by the bank. The Aldan project consists in mining of a unique in its parameters gravel gold deposit at the Bolshoi Kuranakh river in Yakutia, with the reserves of the deposit estimated as containing 80 tons of gold. Gold extraction under the project was begun in 1998 and reached 370 kg and by now the amount has doubled. The bank took all the expenses on financing the first stage of the program - purchase of a dredge made in Australia of mining techology totally new for the deposit. The new device will be launched in June of 2000.

As reported to PRIME-TASS, after launching of the new mechanism the project will reach its main stage. The investments in this stage are estimated at $35 million and include purchasing of one more dredge with the deeping capacity of 45 meters.

Ural-Press-Inform