FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

Gold mining industry goes under control

Gold mining industry goes under control
March 17, 2005 Posted: 15:50 Moscow time (11:50 GMT)

MOSCOW — The government of Yakutia Republic, Russia, considers the possibility of the state control strengthening over gold mining industry by increasing the state’s stake in gold mining companies.

Experts believe it is the best way to fulfill the regional program of non-ferrous metals deposits development and mining industry development in 2002-2006.

Annually this program is corrected – mining volumes are being decreased (the first established volume has been decreased from 28 tons to 22 tons). This happens due to some deposits development changing and some companies failing in plans fulfilment.


LINK: http://www.russiajournal.com/news/cnews-article.shtml?nd=47723