China's Mingbang to invest 330 mln rubles in metals exploration in Magadan Region

摘要

Subsidiaries of Chinese mining company Mingbang on February 17 signed investment agreements with the administration of the Magadan Region to conduct exploration work at two gold, silver and antimony deposits totaling 330 million rubles.The companies - LLC Southwest Mining Company and LLC Southern Mining Company - plan to spend 150 million rubles on exploring the Senon, Serebryanoye and Utro deposit in the Olsky and 180 million rubles on exploration at the deposit Southwest Section of Burkhalinskoye Ore Field deposit in the Yagodninsky district.The companies also plan to invest 500 million rubles in the region in 2012.Mingbang owner Shao Jianshen, speaking in an interview with Interfax, did not specify what this money would be spent on.