Russia’s Kamchatka state opens ground for copper, gold exploration

The government of the Russian state of Kamchatka has begun accepting tenders for mineral exploration and development rights for two regions believed to be prospective for copper, gold and silver.

The tenders are open to both national and foreign companies. Under the terms of the proposed agreement, the company selected must spend US$500,000 on exploration per year over a period of six years. Kamchatka is a peninsula situated between the Bering Sea and the Sea of Okhotsk, in far eastern Russia.

The two mineral regions under review are known as Kurganik-Sharmony and Porozhistoye. The former, which is situated in the central part of the peninsula, hosts two areas which are believed to be prospective for gold and copper. The best-explored of these areas is estimated to contain 600,000 tons of copper and 22 tons of gold.

The Porozhistoye region, situated in western Kamchatka, is known to host zones of copper, gold and silver mineralization.

— With files from Interfax News Agency.

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