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11 NOVEMBER 2004  

Soon there will be nothing to mine

As it has been reported by Vedomosti, last week the Ministry of Nature has finished the consideration of the new State programme on natural resources for 2005 – 2020. This week the programme will be passed to the Government.

Experts expressed an opinion that without investing geological searching Russian gold and platinum resources will have become completely exhausted by 2015 – 2018. It is necessary in the nearest 15 years to invest 154 bln roubles into diamonds and precious metals geological searching, experts say.

Gold miners do not share completely the opinion of the Ministry. Norilsk Nickel has announced that PGM resources will be enough, for example, at Kola Peninsula for 30 years. The same situation is with gold, the president of Polus Company Mr Ivanov says.



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