Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Russian gold related post ***

Hi ml,
This makes me wonder if Bema's 'papers' w/r to their Kupol interests are in order.


Ministry of Natural Resources to check execution of license agreements

Dec 04, 2003 20:08 Moscow time (16:08 GMT)

On December 18, 2003, the Russian Ministry of Natural Resources will meet representatives of companies involved in production of oil, gas, coal, gold, diamonds, etc. As the press service of the ministry reported, joint work with companies that use natural resources for specifying the structure and estimation of executing license agreements is to be completed by January 1, 2004.

Analysis of supervision activities of the ministry testifies to numerous discrepancies between conditions of licenses and the real situation at specific sites of use of natural resources. The ministry suggested all involved companies go for a constructive dialog regarding all these discrepancies, and to voluntarily submit complete objective data and detailed professional arguments in this respect. In the opinion of Deputy Minister of Natural Resources Alexander Povolotsky, these companies are the ones who are first of all interested in eliminating all the discrepancies as they damage their long-term outlooks and impute their reputation on the market.

The official stressed that this would make relations between the state and the companies regarding use of natural resources more transparent, prevent a lot of conflicts, and finally contribute to an increase in the efficiency of using natural resources. /RosBusinessConsulting/

http://www.russiajournal.com/news/cnewswire.shtml?nw=41659#n41659