FAS permits Rio Tinto ICT to obtain one more asset in Kamchatka

The Federal Anti-Monopoly Service of Russia has granted a request of Rio Tinto ICT (joint exploration firm of Rio Tinto and ICT of A.Nesis, created in Cyprus in 2011) on the acquisition of 100% in “Kirganik” Ltd (St.Petresburg), which carries out silver, gold and platinum-group metals exploration in Kamchatka region, is said in a statement of the department.

In September 2013, “Kirganik” Ltd. won an auction for the right to use subsurface for geological survey, copper, gold and silver exploration, and production within the boundaries of the Khim-Kirganikskoye ore cluster in Kamchatka. The company offered 24.2 million roubles during the auction. The forecast resources of the Khim-Kirganikskoye cluster make up 905 thousand tons of copper, 47 tons of gold and 560 tons of silver. The license period at the site makes up 25 years.