Based on materials from www.sibdigest.ru.

The auction for OJSC KeMo selling didn’t take place as it had been planned due to participants lack. The company was created by Moscow mayor Yriy Luzhkov (before his becoming the mayor) and the governor of Kemerovo region Aman Tuleev in 1999. The purpose of the company was to exploit Fedorovo gold deposit, its resources being estimated at 170 tons of gold.

However, the project has failed – no gold has been mined, the company’s debt has totalled to 70 mln roubles. Moscow decided to sell its share (60%). But the planned auction failed to attract buyers.