Irkutsk coal license to be offered at Oct 12 auction
IRKUTSK. Aug 18 (Interfax) - Irkutsknedra, the Irkutsk regional branch of the Russian Federal Subsurface Resources Agency (Rosnedra), will offer the exploration and mining rights to sections one, two and four of the Ishideiskoye coal field at an auction on October 12, the agency said.
The bidding fee is 200,500 rubles and the starting price is 408 million rubles. A deposit equal to the starting price must be paid, and bid applications must be submitted by 4:00 p.m. local time on September 11.
The winner will receive a 20-year license.
The Ishideiskoye field could require investment of 5 billion-6 billion rubles, according to an estimate made back in 2005 and based on the example of the adjacent Mungunskoye field, which is licensed to the Vostsibugol coal company.
Vostsibugol itself used to hold the Ishideiskoye license, but decided against developing the field.
The property is 90 kilometers from the city of Tulunda and 120 km from Nizhneudinsk, and measures 54,600 square kilometers. Commercial