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Tycoon Roman Abramovich 'poised to sell $300 million Chukotka tin deposit'

By The Siberian Times reporter
09 August 2012

One of the world's largest tin deposits - Pyrkakai - could be sold to business interests from China or Malaysia, reported 'Kommersant' newspaper.

Pyrkakai tin deposit, satellite view. Picture: Google maps 

It is currently owned by Millhouse Capital, controlled by billionaire Roman Abramovich, a former governor of the Chukotka region. 

The deposit includes 228,500 tons of tin and 23,000 tons of tungsten, it is claimed, and the license is held by  Severnoye Olovo. 

There has been speculation that Chinese company Shenhua could be a potential buyer after its representatives visited Pyrkakai last year.

Millhouse has so far not initiated negotiations with any buyer, said the newspaper, which also said that Millhouse declined to comment on the matter.

Mining operations are scheduled to start in 2017 following considerable capital investment.

The following year there is a target to produce six million tons of ore, producing 11,100 tons of tin and 814 tons of tungsten annually.

Major southeast Asian companies are showing an increasing interest in potential deals in Siberia and the Russian Far East. 

Comments (3)

it doesnt look real at all, this picture, where did you get it from?
english speaking , St Pete
11/08/2012 00:36
2
0
What a picture !
B, Florida
10/08/2012 17:47
3
0
Leaving Russia gradually, is he? There were reports about the coal mine in Siberia sold years ago... he's not taking such active part in developing Russian football either, remember how it was that project of building the pitches all around the country
A, States
09/08/2012 13:36
6
0
1

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