The Government will provide financing for the development of the utility infrastructure for the operation of the Nasedkino deposit in the Trans-Baikal Territory.
The Russian Government has approved a subsidy to support the construction of a 110 kilovolt power transmission line with substations and the connection to the line.
The funding was allocated as part of the state program Socioeconomic Development of the Far Eastern Federal District, and the eligibility requirements were quite tough. Private investment in the project had to be at least RUB 1 bln ($15.7 mio), and the Government’s contribution had to be less than one-third of the private investment.
The project is expected to produce some 1 mio tons of ore per year; the plan for 2021 is 3.1 tons of gold.