N e w s

OJSC "Buriatzoloto" has started a new investment project - the constructing of a new mine on the "Berezitovoye" deposit (Amursk region) with 40 tons of reserves. The General Director of the company Valeiy Dmitriev informed during the Baikal economic forum that the expected volume of investment is $30 mln, among which $20 mln are planned to be credited by foreign banks.

The mining is supposed to be opencast, annual volumes are expected to constitute 2,5 tons of gold. The company High River Gold Mines from Canada is the partner of the Russian enterprise in realization of the project.

The company High River Gold Mines is the main shareholder of "Buriatzoloto"; it owns 51% of voting shares. The list of shareholders includes the European Bank of reconstruction and development as well. Part of shares is in state ownership. The whole number of shareholders at the moment is 2388. "Buriatzoloto" is one of the largest Russian companies producing gold. In 2002 the company plans to keep the volumes of producing of chemically pure gold at the level of 2001 (4578kg).