The Federation Council approved the agreement with China on the development of the kluchevskoye gold Deposit
MOSCOW, July 28. /TASS/. The Federation Council at the plenary session on Saturday has approved the ratification of the agreement with the government of the people’s Republic of China on cooperation in the sphere of implementation of development project klyuchevskoe gold Deposit, TRANS-Baikal territory.
This agreement, signed in Beijing on February 5, defines the terms, allowing the company China National Gold Group Hong Kong Limited (all cngc) a company under full (100%) control of all cngc, to purchase not less than 60% and not more than 70% of voting shares of joint-stock company “Mine “West Keys”.
In the conclusion of profile Committee of the Federation Council on international Affairs says that the agreement is aimed at creation of favorable conditions for investment cooperation in the development field. Responding to the critical comments of colleagues about the transfer of strategic resources to China, first Deputy Chairman of the Federation Council Committee on international Affairs Vladimir Jabbarov said that the mine was worked out long ago. “Not a single investor had been found, he said. — Not a single investor in Russia, the customer is not interested”.
Earlier it was reported that companies from China and India China National Gold Group Gold Ltd and SUN intend to raise about $500 million investment to begin within two years of mining of gold in Klyuchevsky field.
In 2016, the development Fund of the Far East signed with companies from Brazil, Russia, India, China and South Africa agreement on the development of gold deposits in Kliuchevskoi Transbaikalia. Part of the international consortium included a state gold mining company China National Gold Corporation (China), SUN Gold Ltd. (India), TransAfrica Capital Limited (South Africa) and the investment Fund Antonio de Moraes (Brazil). Target the share of FRD up to 15%.