vlad.tribnet.com / Issue #606 / Business / Reading article...

Kolyma mining sites of gold, silver and tin will receive 11 billion rubles of investment in the upcoming five years, news reports said.

The federal budget allocates 2.5 billion rubles ($102 million) of the sum, part of it to be spent on research of tin reserves in the region, news agency Sever DV (North of Far East) said on its site www.severdv.ru.

The authorities plan to auction off the Oroyekskoye mines with an estimated 11.5 million metric tons of copper and part of the Osenne-Oksinsky mining site with reserves of molybdenum, copper and tungsten.

The increase in gold and silver mining is expected from intensive extraction work at Yano-Kolymsky gold site as well as geological research at smaller fields.