Krasnoyarsk Territory prospecting investment to grow 27% this year
KRASNOYARSK. May 23 (Interfax) - Investment in geological prospecting work in Krasnoyarsk Territory will increase 27.5% over last year in 2012 to 23.1 billion rubles, deputy chief of the regional subsurface resource usage administration Ivan Kurbatov said at the sixth international mining and geological forum 'MinGeo Siberia' on Wednesday.
The federal budget will provide 3.083 billion investment rubles for prospecting work and the rest will come from companies themselves.
There will be 19.4 billion rubles put into exploring for oil and gas (84% of overall investment, and to which the federal budget will contribute 2.8 billion rubles), for precious metals and diamonds 2 billion rubles (8.7%, 262 million rubles), and for ferrous, nonferrous, and rare metals 1 billion rubles (4.3%, 45 million rubles).
The government will be putting money into exploring for ferrous and nonferrous metals for the first time in three years, Kurbatov said.
If production holds at last year's level, the deposits of brown coal being worked in the region will last for one hundred years, those of copper, nickel, and cobalt for more than that, of gas - from 46 to 100 years, of oil - 33 years, and of gold from 2.6 to 12 years, Kurbatov said.