N e w s

This was announced during the meeting of the Governors' Council of the Magadan region which took place under the patronage of Mr.Valentin Tsvetkov, the Governor of the region. As its was reported by the press-service of Administration of Magadan region, growing prices on gold had a positive stimulating effect on Russian mining companies. In particular the rate of production of gold growing constantly in accordance with the prices allow to predict a significant progress in gold extraction. This would lead to a better contribution to the local budget from the mining companies. It is expected that according to the results of the season the payments to the budget would grow by 20 %.