Gold production planned in Chukotka

Agreements on Klyon and Kekura gold developments have been signed in Chukotka.

The project is being implemented by the Corporation for the Development of the Far East and the local companies Klyon and Bazovye Metally, which have already become residents of the Chukotka Priority Development Area. Bazovye Metally will build a mining and processing plant on the Kekura deposit, with investment in the project exceeding RUR 18 bln ($283.1 mio). Klyon will develop a similar project worth RUR 7.5 bln ($118 mio) at the Klyon gold and silver deposit.

Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev and head of the region Roman Kopin took part in the signing ceremony.

Gold and silver production is going to be a promising project in the long term, given the consistently high prices of precious metals,” said commodity market analyst Dmitry Alexandrov. “This is especially relevant given the overall market volatility and the declining value of currencies, securities, etc.”

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