9 Apr 2010 12:32

Russia to auction Tuva coal deposits, suggests consortium

MOSCOW. April 9 (Interfax) - The Russian government will prepare to sell the right to open coal deposits in the Republic of Tuva, and suggests the formation of a consortium to create infrastructure is a likely idea, Prime Minister Vladimir Putin said.

"The government will prepare the right to develop Tuvan coal deposits for auction. Many major companies plan to take part. And I will ask the Regional Development Ministry and the Ministry of Natural Resources, together with their colleagues from the Republic of Tuva, to ensure coordinated work among investors. To consider the possibility of creating a consortium that will put funds into general-usage infrastructure," Putin said at the United Russia inter-regional district party conference in Novosibirsk on Friday.