Novoangarsky Dressing Plant sets up subsidiary to mine gold in Siberia

KRASNOYARSK. Oct 24 (Interfax) - Novoangarsky Dressing Plant LLC (NOK) has set up a subsidiary called Murozhninskoye LLC, the core business of which is mining nonreferrous metals, data from the Unified State Register of Legal Entities (USRLE) showed.

NOK owns 60% of the new company, which is registered in Krasnoyarsk. The other 40% is owned by gold miner Priisk Udereisky, which is part of the same group as NOK.

NOK holds five mineral resource use licenses, including one to explore for and mine hard rock gold at the Murozhninsky block (Udereiskoye deposit) in Krasnoyarsk Territory. NOK secured this license in 2014 and it expires in 2039, Rosgeolfond data showed.

NOK and Gorevsky GOK form a group of companies and operate in Krasnoyarsk Territory and Amur Region. The group, according to its website, holds licenses to develop the Gorevskoye lead, zinc and silver deposit and Udereiskoye gold and antimony deposit in Krasnoyarsk Territory, and the Mogotinskoye silver and gold deposit in Amur Region. Development of the latter two properties is at the initial stage.

NOK is owned by Krasnoyarsk-based Splav Mining and Metallurgical Company LLC, the USRLE showed.