Second project of Russo-British consortium...
The Rusdragmet company (incorporated in the UK as Highland Gold Mining Ltd.) will invest $15 million this year in the restoration of the Novo-Shirokinskiy gold mine in Chita Region. Total investments will amount to $25 million, sources in the Chita regional administration told ITAR-TASS.
The mine's planned capacity is over 2 t of gold per year. It stopped working in the early 1990s but was preserved in good technical condition.
Rusdragmet bought an 87-per-cent stake in the Novo-Shirokinskiy gold mine in 2002.
This is the second project of the Russo-British company in Chita Region. It has already invested $22 million in the development of the Darasunskiy gold ore deposit with an estimated resource of about 100 t of gold. Its exploitation will continue for no less than 30 years.
More than 6 tons of gold was extracted in Chita Region in 2003. This is 560 kg more than in 2002. In 2004 local gold prospectors are planning to produce 7.5 t of gold.
