Novosibirsk Company with Chinese Capital Wins the Right to Develop Complex Ore Deposit in Tuva

At the tender conducted last week by Tuva Agency of Mineral Resources the Novosibirsk-based company with Chinese capital 'Lunsin' Ltd. won by bidding RUR742.5 million for the right to develop Kyzyl-Tashtygsky complex ore deposit. In accordance with the terms offered by the applicant the company is to deposit RUR270 million (100% of the start one-off payment). The auction step was RUR13.5 million. Financial dispute for the Tuva deposit was between Director of Perspektiva Ltd. Mikhail Malyarenko and Director General of Lunsin Ltd. Lin Shude.