Rus News Journal

The gold mining joint venture will enclose S 250 million

the joint venture Lenzoloto will master the Dry broad gull

Yesterday the State committee on property has accepted the final decision about
creation of the gold mining joint venture first in Russia Lenzoloto and about the organisation
its structures. The joint venture is created for the purpose of development of the largest deposit Dry
a broad gull . Enterprise actions are distributed between joint-stock company Lenazoloto (28 %),
the State Property Committee (31 %), administration of the Irkutsk region (10 %) and
the Australian company Star Technology Systems Ltd (31 %). Australians
intend to enclose a deposit of 250 million US dollars in the project of development of it.

joint venture Creation became a result of two-year efforts of owner Star Technology Systems
ltd g - on Iena Dip (Ian MacNee). Experts notice that, becoming the participant of the joint venture
and having got thus into the Russian gold mining branch, Star
Technology Systems ltd has outstripped such large competitors, as Newmont
Mining Corp (USA), Goldbelt Recurces (Canada), Anglo - American Corp.
(the USA - Great Britain) in legal registration of presence in gold mining
branches of Russia.
director Star Technology Systems Lyudmila Moor (Ludmila Moore) has informed that
investments at a rate of 250 million US dollars are supposed to be enclosed in working out
the largest untouched deposits the Dry broad gull (Irkutsk region). This
the sum will make the contribution of firm to the authorised capital of the joint venture. Under data,
consortium Star created
g intends to give to firm Star Technology Systems this money - nom Dip (owner Star Technology Systems). Financial guarantees of the contribution
are confirmed by letters Two largest banks presented in
the government of Russia.
by words g - zhi Moor, ustavnyj the firm will bring a payment after
the detailed data on a deposit " will be given it; the Dry Broad gull . According to firm,
gold mining on a deposit can be finished to 42 tons a year.
as on November, 1st expires the term established by the confidential order of Egor
of Gaydar about preparation of development of a deposit the Dry broad gull will return to this
to a theme on November, 3rd.