JSC Polymetal won the auction for exploration and mining license on the Krasin deposit located in the Magadan Territory, Rough&Polished were reported at the company. The Krasin license covers the area of 18 km2 and is located in the Omsukchan district, 31 km from Polymetal’s recently expanded Dukat processing plant and 6 km from the all-year dirt road connecting Dukat and Lunnoe mines.
The auction took place in Magadan on March 01, 2010. Polymetal’s winning bid amounted to 14.3M rubles ($479,000). The license will expire 25 years after its issuance in 2010. The licensing agreement stipulates that Polymetal will have to undertake no less than 10,500 m3 trenching and 5,000 meters drilling during the four years after the license is issued.
Tatiana Alexandrova, Rough&Polished, Moscow
Rough&Polished

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