Six companies will participate in the auction for the Kyuchus gold deposit in Yakutia
"Applications have been received from PJSC Priargunsky Industrial Mining and Chemical Union, LLC Beloe Zoloto", JSC Atomredmetzoloto , LLC Polus Magadan, Vostok GeoService LLC and Atom Gold LLC," the ministry noted.
The auction for Kyuchus deposit will be held on October 8th. The Ministry of Natural Resources and Environment had earlier stated that the auction will be held under special conditions: the deposit must yield at least 10 tonnes of gold a year from the date of achieving project capacity; the winner of the auction must, no later than June 30, 2028, start using electricity from nuclear power generation of at least 35 MW, which must be supplied by a small-capacity nuclear power plant in Yakutia.
As of January 1, 2020, gold reserves in the subsoil area, including Kyuchus deposit amount to 70.92 tons by C1 category, and 38.42 tonnes by category C2. There are also silver reserves for open-pit processing.